8th Nov 2022 11:02
(Alliance News) - Oxford Instruments PLC on Tuesday backed its annual guidance as the FTSE 250 listing reported improved half-year earnings.
Oxford Instruments provides technology and services to industrial companies and scientific researchers.
It said revenue in the six months that ended on September 30 rose 18% to GB200.5 million from GBP170.1 million a year before. Pretax profit increased 24% to GBP26.6 million from GBP21.4 million.
Oxford Instruments said orders increased to GBP235.3 million from GBP198.3 million, increasing by 19%.
It declared a 4.6p per share dividend, up 4.5% from 4.4p a year earlier.
"Our pipeline remains robust across all our end markets. We anticipate higher production in the second half, combined with the positive impact of recent price increases as we convert our record order book. This provides good visibility for an expected improvement in trading in the second half, with full-year trading at constant currency remaining in line with expectations," Oxford Instruments said.
Looking ahead, Oxford Instruments said it anticipates higher production in the second half, combined with the "positive impact of recent price increases as we convert our record order book". It added that it expects full-year trading at constant currency to be in line with guidance.
Shares were flat at 1,977.97 pence each on Tuesday morning in London.
By Xindi Wei; [email protected]
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