26th Mar 2021 09:12
(Alliance News) - Oxford Instruments PLC on Friday said it expects to post annual earnings growth following "good progress" in the second half of its financial year.
Shares in Oxford Instruments jumped 13% to 2,030.00 pence each in London on Friday morning.
The Abingdon, England-headquartered company, which makes products, systems and tools for research and industry, ends its financial year on Wednesday and reports on its annual results on June 8.
The FTSE 250 constituent expects to post revenue "marginally ahead" of the previous year's GBP317.4 million. Adjusted operating profit is expected to land between GBP55 million and GBP57 million, so at best, a 13% rise from GBP50.5 million.
"The group has made good progress in the second half of the financial year, maintaining its good order growth, particularly across Asia, which benefited from a continued strong performance from China. Our end markets have remained resilient, with the strongest growth across semi-conductor applications," Oxford Instruments said.
By Eric Cunha; [email protected]
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