Oxford Instruments plc Announcement of Half Year Results for 2015/2016
10 November 2015
Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today announces its Half Year Results for the six months to 30 September 2015.
Order book up 21% since start of the year (excluding acquisitions and joint ventures)
Adjusted operating profit* up 7.0% to £20.0 million (2014: £18.7 million) and operating margins up from 10.7% to 12.1%
Reported revenue down 5.8% to £164.8 million (2014: £175.0 million)
Adjusted EPS* up 1.9% to 21.3 pence (2014: 20.9 pence)
Nanotechnology Tools and Service sectors performed well. Difficult trading environment for Industrial Products sector
Cost reduction programme delivering planned savings
MIR Acquisition and Scienta-Omicron joint venture performing as expected
Good cash performance with inflow before acquisitions and dividends of £1.4m (2014: £9.2m outflow)
Proposed half year dividend of 3.7 pence (2014: 3.7 pence)
*Adjusted numbers are stated to give a better understanding of the underlying business performance. Details of adjusting items can be found in Note 2.
Jonathan Flint, Chief Executive of Oxford Instruments plc, said:
“During the first half of the year the Group performed in line with expectations at the time of the September trading update with improving margins and a strengthened underlying order book. Our NanoTechnology Tools and Service businesses continue to perform well, although the markets served by our Industrial Products businesses remain difficult in the face of macroeconomic uncertainty.
The order book and first half results of our NanoTechnology Tools and Service businesses support our confidence that performance for the Group for the full year will be in line with expectations.
Nanotechnology is positioned to continue to yield long term structural growth in demand for high technology tools. We remain focused on our strategy to be the world’s leading nanotechnology tools provider.”
Oxford Instruments plc
Tel: 01865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director
Tel: 020 3128 8100
Rachel Hirst/ Jamie Ricketts