As a result of the Group's robust trading performance, the Oxford Instruments Plc Board is declaring an interim dividend of 4.9p per share, up 6.5% (2022: 4.6p per share).
Other Financial Highlights:
Constant currency growth in order book of 10% to £332m following positive book-to-bill of 1.07.
Orders slightly down (2.3%) at constant currency against strong comparator period (2022: up 18.7%).
Adjusted operating profit of £36.5m (2022: £36.8m), growth of 6.5% at constant currency.
Constant currency adjusted operating profit margin of 18.2% was broadly in line with last year (2022: 18.4%), reflecting a slightly increased gross margin offset by investments in the period; reported margin at 17.4% after currency headwind.
Normalised cash conversion of 41% reflects an adjustment for capital expenditure on capacity expansion and inventory build-up ahead of transfer of operations to new facility and is expected to return to historic rates in the second half.