Abingdon's Oxford Instruments reports strong revenue growth

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TBM Team

Oxford Instruments has just announced order and revenue increase over the first half of its fiscal year. At the same time, they emphasised how global supply chain difficulties were still negatively affecting their finances.

The Abingdon-based manufacturing and research firm reported "excellent" success and significant demand for its goods and services. Orders exceeded those during the first half of the previous year.

"The business continues to see good order growth as we address cost inflation through active price management," a statement from the company said. "We continue to invest in the business to drive future growth, including new product development, as well as enhancements to operational delivery and service to support our growing business."

"We anticipate higher production in the second half, combined with the positive impact of recent price increases as we convert our record order book. This provides good visibility for an expected improvement in trading in the second half, with full year trading at constant currency remaining in line with expectations."

Shares in Oxford Instruments rose by 4.3% to 1,794.00 pence each after the announcement. The Oxfordshire business' half-year results are due to be published in full on the 8th of November.

Main picture courtesy of: The Oxford Magazine

TBM Team