Oxford Instruments sees good growth in first half
Abingdon-based Oxford Instruments told investors it expected to deliver around 10% revenue growth in its first half to September 30.
The company, which provides high-tech products and systems for industry and research, said it saw " good growth" in the period with strong demand across its materials analysis and semiconductor markets, which "more than offset" softer demand from its healthcare and life science market.
Adjusted operating profit for the six months will be slightly above last year, it added, while group margin will be lower than last year, as expected, reflecting the mix effect of stronger revenue growth from Advanced Technologies.
"On a reported basis, the currency headwind will result in adjusted operating profit and margin below the comparable period last year," the firm said.
The company's shares in London added over 4% on Wednesday.
Looking ahead, the tech group said it expected to deliver its normal stronger second half trading performance.
"This will be supported by the execution of some larger orders in Advanced Technologies, as well as progress in our operational transformation and business restructuring projects, delivering efficiency and cost improvements in the second half of the year. We expect performance for the full year to be in line with expectations on a constant currency basis," it said.
The firm's results for the first half will be released on November 12.
