AGM Statement

Oxford Instruments PLC 25 September 2007 25 September 2007 Oxford Instruments plc Chairman's AGM Statement 2007 Oxford Instruments plc, the high technology tools and systems company, is holding its Annual General Meeting today at which the Chairman, Nigel Keen, will make the following statement: Two years ago Oxford Instruments embarked on a strategy to reposition the business towards future growth markets such as those benefiting from nano technology and bioscience. The industries using these technologies show strong intrinsic growth. This, coupled with an increasingly commercial approach across the Group is proving to be a successful growth engine for us. We provide innovative systems solutions to help our customers in fields such as pharmaceutical research and environmental monitoring. In June we reported on the first full year of this strategy. We achieved progress in line with our plan to double the size of the business in five years and improve EBIT margins by ten percentage points. Last year we met our targets through organic growth. This year, acquisitions will also contribute. To date we have acquired two companies, Worldwide Analytical Systems (WAS) and Vericold, both based in Germany. WAS will significantly strengthen and complement the existing product range of industrial spectrometers produced by Oxford Instruments Industrial Analysis business unit. Vericold will give our Nanoscience business unit access to growth segments outside its traditional academic research markets including quantum computing and airport security. The integration of both acquisitions is proceeding according to plan. Our turnover to date this year is ahead of the same period last year. This has been achieved despite, as previously reported in our Interim Management Statement last month, the slowdown in demand for new MRI machines in North America and a reduction in sales relating to hazardous substances (RoHS) legislation. The impact of these factors and unfavourable foreign exchange rates have been offset by growth across other parts of our business. This demonstrates the continuing strength of our core markets and we look forward to new products coming on stream in both our Analytical and Superconductivity businesses in the second half of the year. As a result the Board is confident that the performance for the year will meet its expectations. Enquiries: Oxford Instruments plc Tel: 01865 393200 Jonathan Flint, Chief Executive Kevin Boyd, Group Finance Director Hogarth Partnership Limited Tel: 020 7357 9477 Rachel Hirst / Andrew Jaques / Ian Payne Notes to Editors Oxford Instruments designs, supplies and supports high-technology tools, processes and solutions with a focus on physical science, bioscience, environmental and industrial research and applications. It provides solutions needed to advance fundamental nanoscience research and its transfer into commercial nanotechnology applications. Innovation has been the driving force behind Oxford Instruments' growth and success for over 40 years, and its strategy is to effect the successful commercialisation of these ideas by bringing them to market in a timely and customer-focused fashion. The first technology business to be spun out from Oxford University over forty years ago, Oxford Instruments is now a global company with over 1,300 staff worldwide and a listing on the London Stock Exchange (OXIG). Its objective is to be the leading provider of new generation tools and systems for the Physical Science and Bioscience sectors. This involves the combination of core technologies in areas such as low temperature and high magnetic field environments, Nuclear Magnetic Resonance, X-ray electron and optical based metrology, and advanced growth, deposition and etching. Our products, expertise, and ideas address global issues such as energy, environment, terrorism and health and are part of the next generation of telecommunications, energy products, environmental measures, security devices, drug discovery and medical advances. This information is provided by RNS The company news service from the London Stock Exchange UAR
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