9 Jun
Oxford Instruments plc Announcement of Preliminary Results for the year to 31 March 2015
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 2015.
Highlights:
- Orders grew by 13.0% to £386.6 million (2014: £342.2 million)
- Revenue grew by 7.1% to £385.5 million (2014: £360.1 million)
- On an Organic Constant Currency basis, Orders flat on prior year and Revenues declined by 5.4%
- Adjusted profit before tax* of £35.6 million (2014: £47.1 million), reflecting macro headwinds in Japan and Russia, and weaker trading than expected in IndustrialAnalysis
- Adjusted EPS* of 48.2p (2014: 67.7p)
- Andor Technology acquisition has integrated well and is performing strongly
- Cost reduction programme accelerated and delivering greater than planned savings
- Investment in future organic growth: R&D spend increased to £35.2 million (2014: £27.9 million)
- Proactive portfolio management to deliver long-term shareholder value: acquisition of MIR; joint venture to combine Oxford Instruments’ Omicron business with Scienta Scientific AB
- Proposed final dividend of 9.30 pence (2014: 9.04 pence), giving a total dividend for the year of 13.0 pence (2014: 12.4 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:
“Overall, we have had a challenging year. We expect a return to organic growth in the coming year, with potential for margin improvement in the medium term. This reflects our swift and decisive action to improve our business, and our confidence that nanotechnology continues to drive long term demand for our high technology tools. Our strategy remains to grow our core markets of physical and materials science, and expand into life sciences.”
Enquiries:
Oxford Instruments plc
Tel: 01865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director
MHP Communications
Tel: 020 3128 8100
Rachel Hirst / Jamie Ricketts