Oxford Instruments confident on full-year outlook as orders jump

Oxford Instruments PLC on Tuesday said it expects full-year results to be in line with market expectations following strong first-half order growth.

The High Wycombe, England-based scientific technology company said revenue for the six months ended September 30 rose 8% from £185.5 million a year earlier, implying £200.3 million in revenue for the first half.

Adjusted operating margin is expected to improve by more than 100 basis points from 13.3% a year earlier, implying a margin of above 14.3% and adjusted operating profit of more than £28.6 million.

Net cash at September 30 was £75 million, up 66% from £45.1 million a year earlier.

Oxford Instruments said it had completed £83 million of its £100 million share buyback programme by September 30, with the remaining £17 million expected to be completed early in 2027.

The company posted a near 44% increase in its order intake, resulted in a strong order book, underpinning Oxford Instrument's confidence in meeting full-year market expectations.

Advanced Technologies, one of Oxford Instruments' two divisions that develops and supplies specialist technology used in manufacturing, particularly for the semiconductor and communications industries, order intake surged over 125%. This was primarily driven by datacom demand following several customer wins and revenue growth of 26%, the company said.

Chief Executive Richard Tyson said: "We have made further strong progress in the first half - executing on our strategy, delivering for our customers and building momentum across both our businesses."

"Our focus this year is on investing in ramping our capacity, supply chain and service model to deliver for customers and cement our position in this rapidly growing market," Tyson said.

Shares in Oxford Instruments were up 2.6% to 3,042.00 pence on Tuesday morning in London.

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