21 September 2021
Chairman’s AGM Statement
Oxford Instruments plc, a leading provider of high technology products and services to industrial companies and scientific research communities, is holding its Annual General Meeting today at which the Chairman, Neil Carson, will make the following statement on trading:
Order and revenue growth has been strong in the first five months of the year, supported by positive underlying demand across our markets, and across both commercial and academic customers.
Currency effects have had an adverse impact on revenue and operating profit, compared to the same period in 2020, as sterling strengthened against our key trading currencies. We anticipate a headwind effect on full-year revenue and operating profit of approximately 4% and 3% respectively.
A healthy pipeline across the breadth of our markets, a strong order book and the expected contribution following the acquisition of WITec, supports our view that trading for the full year will be slightly ahead of expectations. Covid-19 continues to disrupt supply chains and is heightening uncertainty for forecasting.
Oxford Instruments’ results for the half-year ended 30 September 2021 will be released on Tuesday 9 November 2021.
Note: Oxford Instruments compiled analyst forecast range for adjusted operating profit (year to 31 March 2022): £59.7m to £63.0m, with an average consensus of £61.2m.