Interim Management Statement

RNS Number : 9710L

Oxford Instruments PLC

09 August 2011

 

Oxford Instruments plc

Interim Management Statement

For release 9 August 2011

Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today issues an Interim Management Statement which covers the period from   1 April 2011 to date.

As anticipated, orders, sales and profits for the Group are all ahead of the same period in the prior year.

Our Research markets remain robust and orders within our Industrial markets are continuing at the strong levels seen in the second half of last year.  The Service division continues to perform well across all our aftermarket revenue streams.

On 14 June, the Group announced the acquisitions of Omicron Nanotechnology GmbH and Omniprobe Inc. for a combined consideration of £40 million, and an associated equity placing of £38 million.  We also announced our 14 cubed strategy; to target compound revenue growth of 14% and a Trading Profit return on sales of 14%, by 2014. The integration of the acquisitions and the implementation of the strategy are progressing as planned.

Save as described in this statement, there has been no significant change in the financial position of the Group in the period.    

The Group has made an encouraging start to the year.  The diversity of our activities, both by served markets and by geography, combined with our strong pipeline of new products, will continue to provide growth opportunities for the Group.  Accordingly, the Board anticipates that Oxford Instruments will continue to make good progress in line with its expectations for the financial year.

Enquiries:

Oxford Instruments plc                                          Tel: [phone]

Jonathan Flint, Chief Executive

Kevin Boyd, Group Finance Director

MHP                                                                    Tel: [phone]

Rachel Hirst / Ian Payne

This Interim Management Statement contains certain forward-looking statements which have been made by the Directors in good faith using information available up until the date they approved the Statement.  Forward-looking statements should be regarded with caution as by their nature such statements involve risk and uncertainties relating to events and circumstances that may occur in the future.  Actual results may differ from those expressed in such statements, depending on the outcome of these uncertain future events.

Notes to Editors

Oxford Instruments designs, supplies and supports high-technology tools and systems with a focus on research and industrial applications. It provides solutions needed to advance fundamental physics research and its transfer into commercial nanotechnology applications. Innovation has been the driving force behind Oxford Instruments' growth and success for over 50 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 fifty years ago, Oxford Instruments is now a global company with over 1700 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 research and industrial 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. Oxford Instruments' products, expertise, and ideas address global issues such as energy, environment, security and health.  

 

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