Oxford Instruments reports rise in revenue

Oxford Instruments Queens Award

Oxford Instruments plc, a leading provider of high technology products and systems for industry and research, that revealed its results for the year ended 31 March 2019.

Orders up 12.9 per cent to £353.5 million. Order book of £171.6 million, up 12 per cent.

Ian Barkshire, Chief Executive of Oxford Instruments plc, said: “We have made good progress in the year with the continued implementation of our Horizon strategy, which is delivering good growth and improved profitability.  We are serving attractive markets with long-term fundamental growth drivers and focusing on segments where we can maintain leadership positions.  

“Our core purpose is to address some of the world’s most pressing challenges. We have positioned the Group to be a leading provider of high technology products and services to image, analyse and manipulate materials down to the atomic and molecular level, facilitating a greener economy, increased connectivity, improved health and leaps in scientific understanding.

“While mindful of the backdrop of geopolitical and market uncertainty, we remain focused on improving the business and expect to make further progress in the year.”

The company reported strong order, revenue and profit growth in Materials & Characterisation supported by growth in advanced material and semiconductor customer segments.

Healthy end markets across life science, quantum technology and academia supported strong order and revenue growth across its Research & Discovery sector. Operating profit was held back in the period by a lower performance from scientific X-ray tubes and Scienta Omicron

Order, revenue and profit growth, with margin improvement, in Service & Healthcare, supported by growth in service and support of its own products and an improved performance from its healthcare businesses

Investment in R&D supporting new and future product launches. The company also received the Queen’s Award for Innovation for its latest material analyser.

The award was granted for innovations made during the development of an x-ray instrument that, when used in an electron microscope, enables very low energy x-rays to be detected in samples. Such a capability has multiple applications, including for example measurement of lithium used in battery research and high-resolution measurements of semiconductors samples.

This was the sixth Queen’s Award won by the NanoAnalysis division and the fourteenth for the Oxford Instruments Group overall.