Last checked at 30 Mar 2020 07:00
Oxford Instruments plc
Suspension of Interim Dividend
Oxford Instruments plc, a leading provider of high technology products and services to industrial companies and scientific research communities, today provides an update on the measures the Group is taking to mitigate the risks presented by the continued spread of COVID-19.
On 18 March 2020, Oxford Instruments plc issued a trading update. In the statement we highlighted our strong balance sheet and substantial liquidity. The Group continues to trade in line with the revised guidance and net cash has increased to over £60m. This puts us in a strong position to manage through this difficult period.
However, considering current uncertainty, we are taking all necessary internal actions to manage our cost base and cash resources prudently. In light of these actions, together with future measures that are being assessed to navigate through these difficult times, the Board feels that it is appropriate to suspend payment of the interim dividend, which was due to be paid on 14 April.
Enquiries:
Oxford Instruments plc Tel: 01865 393200
Ian Barkshire, Chief Executive
Gavin Hill, Group Finance Director
MHP Communications Tel: 07767 323 423
Rachel Hirst / Alice McLaren
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Issued for and on behalf of Oxford Instruments plc
Notes to Editors
About Oxford Instruments plc
Oxford Instruments designs, supplies and supports high-technology tools and systems with a focus on research and industrial applications. Innovation has been the driving force behind Oxford Instruments' growth and success for 60 years, supporting its core purpose to address some of the world's most pressing challenges.
The first technology business to be spun out from Oxford University, Oxford Instruments is now a global company and is listed on the FTSE250 index of the London Stock Exchange (OXIG). Its strategy focuses on being a customer-centric, market-focused Group, understanding the technical and commercial challenges faced by its customers. Key market segments include Semiconductor & Communications, Advanced Materials, Healthcare & Life Science, and Quantum Technology.
Their portfolio includes a range of core technologies in areas such as low temperature and high magnetic field environments; Nuclear Magnetic Resonance; X-ray, electron, laser and optical based metrology; atomic force microscopy; optical imaging; and advanced growth, deposition and etching.
Oxford Instruments is helping enable a greener economy, increased connectivity, improved health and leaps in scientific understanding. Their advanced products and services allow the world's leading industrial companies and scientific research communities to image, analyse and manipulate materials down to the atomic and molecular level, helping to accelerate R&D, increase manufacturing productivity and make ground-breaking discoveries.