Oxford Instruments semiconductor demand drives profit and revenue rise

Oxford Instruments PLC on Tuesday reported a profit and revenue boost as an increase in sales is driven by global growing semiconductor demand.

The High Wycombe, England-based scientific technology company said pretax profit for the six months ended September 30 was £30.9 million, rising 22% from £25.4 million the previous year.

Revenue was £201.1 million, 8.4% higher than £185.5 million a year earlier, while the group's order book was £317 million.

The company explained that both its divisions benefitted from an increased demand for technologies that support advances in compound and silicon semiconductor applications.

For Image and Analysis, a 59% rise in orders for semiconductor applications, its high-end microscopes and nanoprobing analysis tools, drove a 34% boost in revenue within the division.

Order rose 12% to £163.8 million from £146.6 million.

In Advanced Technologies, accelerated demand for compound semiconductors, microchips made from a combination of two or more elements, saw the division's order growth more than double to £132.2 million, from £58.6 million.

Oxford Instruments declared an interim dividend of 5.8 pence per share, up 7.4% from 5.4p.

Looking ahead, Chief Executive Richard Tyson said: "While remaining mindful of the ongoing complexity of the external landscape and the challenges of rapid growth, given the growth in our order book, we are confident in our ability to meet market expectations for the full year, and are on track for our medium-term goals."

In particular, the company noted strong order growth in Advanced Technologies, where it explained "demand is being accelerated by investment in artificial intelligence data centres and the transition towards higher-volume, larger-wafer indium phosphide device manufacturing."

Oxford Instruments said it now expects Advance Technologies' revenue to grow by around 20% in financial 2028 with an operating profit margin of between 12% to 15%.

Oxford Instruments shares rose 2.1% to 2,628.00 pence on Tuesday morning in London.

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