Oxford Instruments backs annual outlook as sales and orders pick up

(Alliance News) - Oxford Instruments PLC on Tuesday said it expects to deliver a "resilient" full-year performance in line with market expectations boosted by an uptick in orders.

The Buckinghamshire, England-based high-technology instruments company expects order intake for the financial year to March to rise around 8% on an organic constant currency basis, with a book-to-bill ratio of about 1.07.

After a "tariff-disrupted start" to the financial year, full-year order intake in its Imaging & Analysis division is expected to be in line with the prior year on a reported basis, and marginally up versus prior year on an OCC basis, the firm said.

Within the Advanced Technologies division, "tailwinds in the compound semiconductor market, and increasing traction with volume manufacturing customers", have driven 30% OCC year-on-year order growth, it added.

Here, order intake has accelerated in the second half, mainly driven by large US and European commercial customers.

Following receipt of a "significant" multi-year order in April, the current AT order book materially covers planned revenue for financial 2027, with orders now extending into financial 2028.

Strong execution and improving market conditions in the second half of the financial year delivered revenue "significantly" ahead of the first, with second half revenue marginally below the prior year on a reported basis, moving to slightly positive growth on an OCC basis.

Group operating profit margin continued to benefit from the cost restructuring actions undertaken at its Belfast-based imaging business, and from the expected margin improvement from second half revenue growth.

"With good momentum and a strong order book we are well positioned for growth into the new financial year and beyond," Chief Executive Richard Tyson said.

Shares in the company rose 0.5% to 2,662.00 pence each in London on Tuesday morning.

By Jeremy Cutler, Alliance News reporter

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