Oxford Instruments released their half-yearly results today which declares an interim dividend of 3.05p per share, an increase of just over 10% on 2011.
Highlights:
- Good progress in the first half, in line with meeting our 14 Cubed growth plan objectives
- Revenue up 7.4% to £170.8 million (2011: £159.1 million)
- Adjusted profit before tax up 23.5% to £23.1 million (2011: £18.7 million)
- Adjusted EPS up 20.2% to 33.9 pence (2011: 28.2 pence)
- Reported EPS up 25.1% to 20.9 pence (2011: 16.7 pence)
- Continued increase in global demand for nanotechnology tools
- Focused R&D programme continued to underpin organic growth
- New product pipeline remains strong
- Net cash of £37.1 million at period end (2011: £11.9 million)
- Interim dividend increased by 10.1% to 3.05 pence (2011: 2.77 pence)
Jonathan Flint, Chief Executive of Oxford Instruments plc, said:
"We have delivered a strong result in the first half in line with our 14 Cubed objectives. We have a broad spread of geographies and technologies, exposure to markets with long term structural growth, a strong pipeline of new products and a focus on improving efficiency. These factors should help us to remain resilient against a backdrop of sustained global economic uncertainty. We are continuing our pursuit of acquisitions that have the potential to enhance shareholder value and add to our range of technical capabilities.
The Board remains confident in the continued growth prospects of Oxford Instruments and the Group's ability to deliver shareholder value."
