Oxford Instruments, a leading provider of high-tech products and systems, has reported year-on-year revenue growth, driven by strong results in research and discovery. However, the company anticipates that its full-year profit will be on the lower end of market expectations.
Solid First Half Performance
For the first half of the year ending on September 30, Oxford Instruments stated that its adjusted operating profit was in line with the same period in the previous year, which stood at £36.8 million ($45.3 million).
The company also expects its revenue to exceed the £200.5 million reported last year. While there may be a slight delay in anticipated customer orders, Oxford Instruments predicts solid growth in its order-book for the first half of the year.
Lower Profit Expectations for Full Year
Although the company is witnessing steady growth, it has set a cautious outlook for its full-year adjusted operating profit. It anticipates that its profit will fall within the range of £78.6 million and £84.3 million, with market consensus currently at £82.8 million.
Following this news, shares of Oxford Instruments were down 4.65% at 1,950.0 pence as of 0832 GMT.