Orders up by more than 10% at Oxfordshire technology business

oxfordinstruments

Orders at Oxford Instruments plc were up by more than 10% according to the company’s half year results.

In the six months up to September this year the manufacturing and technology business, saw £162.9m worth of orders compared to £147.7m for the same period in 2017.

Revenue also increased by 11.3% from £132.1m to £147m with reported profit before tax down 8.7% to £11.6m.

The company , based in Abingdon in Oxfordshire, said there had been a continued focus on innovation and research and development with further investment in sales, service and operational capabilities. There was also an increased focus on strategic procurement, operational efficiencies and logistics.

Ian Barkshire, Chief Executive of Oxford Instruments plc, said: “We continue to make good progress with the implementation of our Horizon strategy whilst maintaining a focus on the near-term delivery of improved performance.

“The strategy is now well embedded across the group and we are starting to see positive results with good underlying order and revenue growth.”

“Our commitment to provide leading product performance and commercial solutions in markets with long-term growth drivers, coupled with our increased investment in operating efficiencies, will continue to drive progress.”