11 Jun

Announcement of Preliminary Results for the year to 31 March 2013

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 2013.

Highlights:

• Good progress in the second year of our 14 Cubed growth plan
• Revenue up 4.8% on an organic constant currency basis; total revenues up 4.0% to £350.8 million (2012: £337.3 million)
• Adjusted profit before tax* up 14.8% to £48.2 million (2012: £42.0 million)
• Adjusted operating profit* margin increased to 14.2% (2012: 12.5%)
• Adjusted EPS* up 10.9% to 68.3 pence (2012: 61.6 pence)
• On a constant currency basis, Nanotechnology Tools organic sales up 9.4%
• Industrial markets remained soft
• Strong progress in emerging and fast growing economies
• Asylum Research acquisition integrating well and performing to plan
• Strong new product pipeline supported by increased investment in R&D, up 5.9% to £25.1 million (2012: £23.7 million)
• Net cash from operating activities of £41.5 million (2012: £41.6 million)
• Proposed final dividend increased by 12.8% to 8.15 pence (2012: 7.23 pence), giving a total dividend for the year of 11.2 pence (2012: 10.0 pence)

*Adjusted numbers are stated to give a better understanding of the underlying business performance. Details of adjusting items can be found in Note 1.

Jonathan Flint, Chief Executive of Oxford Instruments plc, said:

“I am pleased to report that the Group has delivered another strong performance in the year. We are now two months into the final year of the three year period covered by the 14 Cubed objectives. Although the year has started slowly, we are focused on completing our 14 Cubed plan and delivering further progress in the years to come. Our R&D plan continues to deliver new products to the market which take market share from our competitors. We are building on our strong position in emerging and fast growing economies and we continue to target growth, both organically and through bolt-on acquisitions.”

Enquiries:

Oxford Instruments plc 
Tel: 01865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director

MHP Communications 
Tel: 020 3128 8100
Rachel Hirst
Ian Payne