Oxford Instruments flags marginal improvement in revenue

Oxford Instruments said it was expecting a marginal improvement in revenue on Friday, following good progress in the second half.

The FTSE 250 industrial and scientific supplier said revenue was expected to be “marginally ahead” of the prior year, including a small adverse impact from currency effects.

Adjusted operating profit for the year ending 31 March was anticipated to be between £55m and £57m, supported by the operating efficiencies it had implemented.

“The group has made good progress in the second half of the financial year, maintaining its good order growth, particularly across Asia, which benefited from a continued strong performance from China,” the board said in its statement.

“Our end markets have remained resilient, with the strongest growth across semiconductor applications.”

Oxford Instruments said it would release its results for the year ending 31 March on 8 June.