REG - Oxford Instruments - Half Year Trading Update

Oxford InstrumentsAnnouncement

13/10/2022 07:01

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RNS Number : 6889C  Oxford Instruments PLC  13 October 2022

 

Oxford Instruments plc

Half Year Trading Update - 13 October 2022

 

In line with constant currency expectations for the full year

 

Oxford Instruments plc, a global provider of high technology products and
services to many of the world's leading companies and scientific research
communities, is today issuing a trading update for the half year ended 30
September 2022.

 

We have made good progress in the first half of the financial year, with
continued strong demand for our products and services.  On a constant
currency basis, orders were ahead of revenue during the period and ahead of
orders for the first half of last year. On a reported basis we expect strong
revenue and adjusted operating profit(1) growth for the first six months of
the year, supported by a currency tailwind. Constant currency growth has been
tempered in the first half by global supply chain challenges, as well as price
rises not yet offsetting inflationary pressures due to phasing of the order
book.

 

The business continues to see good order growth as we address cost inflation
through active price management. We continue to invest in the business to
drive future growth, including new product development, as well as
enhancements to operational delivery and service to support our growing
business.

 

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.

 

Our balance sheet remains strong. Excluding leases, our net cash on 30
September 2022 was approximately £94m, up from £86m on 31 March 2022.

 

Oxford Instruments' results for the half year ending 30 September 2022 will be
released on 8 November 2022.

 

 

Notes:

 

1.     adjusted operating profit is before amortisation and impairment of
acquired intangible assets, acquisition items, and the mark-to-market
revaluation of financial derivatives

 

Enquiries:

 

Oxford Instruments plc
 
            Tel:  01865 393200

Ian Barkshire, Group Chief Executive

Gavin Hill, Chief Financial Officer

Julian Wais, Head of Investor Relations

 

MHP
Communications
Tel:  020 3128 8100

Katie Hunt/Eleni Menikou/Veronica Farah

oxfordinstruments@mhpc.com (mailto:oxfordinstruments@mhpc.com)

 

 

- Ends -

Issued for and on behalf of Oxford Instruments plc

 

Notes to Editors

 

About Oxford Instruments plc

 

Notes to Editors

About Oxford Instruments plc

Oxford Instruments designs, supplies and supports high-technology products and
systems which allow the world's leading companies and scientific research
communities to image, analyse and manipulate materials down to the atomic and
molecular level. The Group's products and services help its customers to
accelerate R&D, increase manufacturing productivity and make
ground-breaking discoveries across its key market segments: Semiconductor
& Communications, Advanced Materials, Healthcare & Life Science,
Energy & Environment and Quantum Technology.

 

Innovation is the driving force behind Oxford Instruments' growth and success,
supporting its core purpose to enable a greener, healthier, more connected
advanced society. Founded in 1959 as the first technology business to be spun
out from Oxford University, Oxford Instruments is now a global company
listed on the FTSE250 index of the London Stock Exchange (OXIG). Its
customer-centric, market-focused strategy creates competitive advantage
through understanding the technical and commercial challenges in markets with
long-term structural growth drivers.

 

For more information, visit www.oxinst.com (http://www.oxinst.com)

 

 

 

 

 

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