13 Nov

Oxford Instruments plc Announcement of Half Year Results for 2012/13

Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today announces its Half Year Results for the six months to 30 September 2012.

Highlights:

• Good progress in the first half, in line with meeting our 14 Cubed growth plan objectives
• Revenue up 7.4% to £170.8 million (2011: £159.1 million)
• Adjusted profit before tax* up 23.5% to £23.1 million (2011: £18.7 million)
• Adjusted EPS* up 20.2% to 33.9 pence (2011: 28.2 pence)
• Reported EPS up 25.1% to 20.9 pence (2011: 16.7 pence)
• Continued increase in global demand for nanotechnology tools
• Focused R&D programme continued to underpin organic growth
• New product pipeline remains strong
• Net cash of £37.1 million at period end (2011: £11.9 million)
• Interim dividend increased by 10.1% to 3.05 pence (2011: 2.77 pence)

*Adjusted numbers are stated to give a better understanding of the underlying business. Details of adjusting items can be found in Note 2.

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

“We have delivered a strong result in the first half in line with our 14 Cubed objectives. We have a broad spread of geographies and technologies, exposure to markets with long term structural growth, a strong pipeline of new products and a focus on improving efficiency. These factors should help us to remain resilient against a backdrop of sustained global economic uncertainty. We are continuing our pursuit of acquisitions that have the potential to enhance shareholder value and add to our range of technical capabilities.

The Board remains confident in the continued growth prospects of Oxford Instruments and the Group’s ability to deliver shareholder value.”

Enquiries:

Oxford Instruments plc
Tel: +44 (0)1865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director

MHP Communications
Tel: +44 (0)20 3128 8100
Rachel Hirst
Ian Payne