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So steady as she goes and the price collapses 9%. Looking for the details.
Well today we ran up a cliff and skiied down the other side, any ideas why?
Numis initiates add on Oxford Instruments, target price 1380p.
Investec initiates hold on Oxford Instruments, target price 1180p.
Oxford Instruments, a high technology tools and systems for industry and research, said it has made an encouraging start to the year with orders, sales and profits all ahead of the same period last year. The group said sales growth for the period from 1 April 2012 to date was fuelled by both an organic and reported basis. "Our markets remain strong despite continued economic uncertainty, particularly in Europe. A healthy pipeline of new product introductions is in place and we are investing across the business to increase efficiency, strengthen our market positions and drive further profitable growth," Oxford Instruments said in a company statement. As a result, the Board expects it will continue to make good progress in line with company expectations for the financial year and consistent with its objectives. Oxford added that there has been no significant change in the financial position of the group.
14th June Westhouse Securities reiterates 'BUY' rating for Oxford Instruments with a price target of 1,300.00 22 June Liberum Capital reiterates 'BUY' rating for Oxford Instruments with a price target of 1,445.00 Source: http://sharedealing.nandp.co.uk/broker-views/OXIG/Oxford-Instruments P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
"TECHNOLOGY IS KEY TO UK GROWTH," SAYS OXFORD INSTRUMENTS BOSS While the banks have been battered, the euro has crumbled and stock markets have shivered in the past three years, one British company has seen its share price rise more than 750 per cent. No, that is not a misprint................................... Read the full story here: http://www.thisismoney.co.uk/money/markets/article-2158948/CITY-INTERVIEW-Technology-instrumental-UK-growth-says-Oxford-Instruments-boss.html
OXFORD INSTRUMENTS FIRING ON ALL CYLINDERS High-tech firm Oxford Instruments said back in April its full year results would be good, and so it has proved. The provider of high technology tools and systems for research and industry delivered adjusted profit before tax of £42.0m in the year to March 31st, up 60% on the previous year's £26.2m and better than the £39.8m the market had been expecting. Revenue rose 28.6% to £337.3m from £262.3m, topping expectations of £336.9m, as the group saw a record performance across all three of its business sectors. Organic revenue growth clocked in at 15.1% and was achieved across all territories. DIVISIONAL PERFORMANCE Revenue in the Nanotechnology Tools division rose to £153.9m from £121.8m the year before, while operating profit improved to £17.3m from £14.6m. The Industrial Products division upped revenue to £129.1m from £100.5m the preceding year, while operating profit more than doubled to £13.8m from £6.1m. The group's Service arm also put in a good shift, lifting revenue to £56.3m from £42.5m the year before, while operating profit rose to £11.0m from £7.4m a year earlier. DASH FOR GROWTH ON TARGET Order intake across the group was £337.8m (2011: £273.5m) and the order book for future delivery now stands at £136.8m (2011: £115.3m). Adjusted earnings per share were up 48.4% to 61.6p from 41.5p the year before, ahead of the market consensus forecast of 59.52p. That paved the way for an 11.6% hike in the final dividend to 7.23p, making the full year pay-out 10p, up from 9p the year before. Brokers following the stock had expected a full year divi of 9p. "We are now two months into the second year of our 14 Cubed plan," said Jonathan Flint, Chief Executive of Oxford Instruments, referring to the group's stated objective of achieving compound growth of 14% and a return on sales of 14% by 2014. "Trading to date has been in line with our expectations and our markets remain strong despite continued economic uncertainty, particularly in Europe," Flint added. Recent product releases have been well received, with 44% of revenue coming from products launched or acquired in the last three years - up from 34% the year before - and the group has plenty more new products in the pipeline. It also remains on the look-out for suitable bolt-on acquisitions, with ample firepower to hand, as it has net cash of £35.1m, and access to up to £84.5m of credit facilities. Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20155700
"The only exception to positive trading is likely to be seen within Plasma Technology division where over capacity in the High Brightness (HB) LED [light-emitting diode] market is still not expected to see a recovery in demand," the broker cautions. "That said, equipment solutions in MEMS should offset the downturn in HB LED within Plasma Technology," the broker added.
Westhouse Securities expects the firm to report positive trading patterns across its three main business activities: Nanotechnology Tools, Industrial Products and Service.
Oxford Instruments, a provider of high technology tools and systems for research and industry, revealed back in April that profits would be at the upper end of expectations so there should not be too many surprises when it unveils full year figures on Tuesday.
Pre-close Trading Update Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, is today issuing a trading statement ahead of entering its close period. The company continues to make good progress in line with its "14 Cubed" objectives and currently expects adjusted profit before tax* for the year to 31 March 2012 to be at the upper end of market expectations. Oxford Instruments' preliminary results for the year ended 31 March 2012 will be released on Tuesday 12 June.
http://www.investegate.co.uk/Article.aspx?id=201204110700100578B
CONT Our industrial markets are also robust, particularly in Asia. Customers use Oxford Instruments equipment to implement high technology manufacturing strategies in areas such as next generation photovoltaic devices, and to show compliance to environmental standards. This sustained strengthening of demand, coupled with the volume shipments of superconducting wire on the ITER programme, means that our industrial sector businesses are showing better performance than in the prior year. The Service division continues to perform well across all our aftermarket revenue streams with our customers showing an increased willingness to take on multi-year service contracts for our high technology equipment. We are seeing strength in all our business sectors and notwithstanding uncertainty in global economies, we believe the diversity of our activities, 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.
Chairman's AGM Statement 2011 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: In June this year, we reported on our progress over a five year period that delivered significant growth and margin improvement. We achieved an average organic growth rate of over 12% per annum and improved our net margins from around 3% to over 10%. We also outlined the next strategic plan for the Group, our 14 cubed strategy. The plan seeks to achieve a compound annual growth rate of 14% and a return on sales of 14% by 2014. It is anticipated that this target will be achieved predominantly through organic growth and continuing internal efficiency improvements. It will also be supported by targeted, bolt on acquisitions. We announced the first two of these acquisitions, Omicron NanoTechnology GmbH and Omniprobe, Inc. on the 14th June this year. These businesses fit well with our Nanotechnology Tools sector and integration is proceeding to plan. Our research markets continue to benefit from strong demand as customers use Oxford Instruments' equipment to develop new techniques and products in areas such as Micro-Electro-Mechanical Systems (MEMS), which are used in a growing number of applications including motion sensors for electronic devices and airbags.
http://www.investegate.co.uk/Article.aspx?id=201109130700080838O
Oxford Instruments (OXIG) retained its "buy" rating for Singer Capital,with a 940p target price, after the technology company posted a reassuring trading update, with sales and profits up year-on-year. The broker notes healthy performance in both research and industrial markets, and the integration of Omicron and Omniprobe is proceeding well
Nice work if you can get it. J P Morgan organise a private placing and dish out shares to their friends in the City at 775p per share. As an OXIG shareholder I would like the opportunity to buy in at a substantial discount to the current sp, without dealing fees or stamp duty. And you get the final divi straightaway – its only mug private investors who have to wait a year for their payout. A much fairer procedure would be a rights issue so that all loyal shareholders could benefit. That’s not the role city fat cats see for private investors. If we are supposed to be grateful that the placing has been successful then put me down as one of the ingrates.
Evolution Securities retained its "buy" rating on Oxford Instruments (OXIG) with an increased target price of 960p, up from 850p. The broker notes that revenues in the second half were up 11% on its forecasts and said a continued rebound in industrial markets, ongoing demand for research products, strength from emerging markets and record order levels all support sustained revenue growth. This, combined with the two recent accretive acquisitions, has prompted Evolution to materially increase its forecasts. The shares advanced 25p to 825p.
Analysts have been known to complain mildly about the slow progress of Oxford Instruments in finding promised acquisitions. The maker of high-tech analytical devices announced two yesterday, and the slow pace seems understandable. Such acquisitions are tricky, being more about providing a sympathetic working environment than hard cash, but chief executive Jonathan Flint says they are available. The shares are on a high 17 times’ this year’s earnings, but that does not seem unreasonable. Certainly, buy on any weakness, says the Times.
Nigel Keen, Chairman of Oxford Instruments plc, said: "It is now five years since we announced our plan to double the size of Oxford Instruments and significantly improve our margins. Our successful implementation of this strategy is reflected by this set of results, the strongest performance in the Group's 51 year history. Our new three year plan, to target 14% annual revenue growth and ROS of 14% by 2014, sets the framework for delivering sustained shareholder value driven by strong organic growth, continuous efficiency improvements and targeted acquisitions."
Announcement of Preliminary Results for the year to 31 March 2011 Improved profits and revenues Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today announces its Preliminary Results for the year to 31 March 2011. Financial Highlights: · Order intake up 9.4% to £273.5 million (2010: £250.0 million) · Revenue up 24.0% to £262.3 million (2010: £211.5 million) · Strong organic growth supported by increased R&D investment · Adjusted profit before tax* up 120.2% to £26.2 million (2010: £11.9 million) · Adjusted EPS* up 133.1% to 41.5 pence (2010: 17.8 pence) · Basic EPS up 140% to 65.3 pence (2010: 27.2 pence) · Proposed final dividend increased by 8% to 6.48 pence, giving a total dividend for the year of 9.0 pence (2010: 8.4 pence) · New medium term plan announced · Separately announced today, acquisitions of Omicron Nanotechnology GmbH and Omniprobe, Inc. for an aggregate consideration of £40.2 million.
http://www.investegate.co.uk/Article.aspx?id=201106140700093828I
http://www.investegate.co.uk/Article.aspx?id=201104060700063709E
Oxford Instruments to exceed FY forecast Date: Wednesday 06 Apr 2011 LONDON (ShareCast) - High-tech instruments maker Oxford Instruments said its performance for the year had exceeded company expectations, and should be no less than £25m, after a surge in demand from its research and industrial markets. The group, which provides high technology tools and systems said, "Due to the continued strength of both our research and industrial markets, efficiency improvements and positive foreign exchange movements, performance for the year has exceeded our expectations." Oxford Instruments added that it currently expects adjusted profit before tax for the year to 31 March 2011 to be above market consensus and not less than £25m.