Announcement of Preliminary Results for the year to 31 March 2008 and Interim Management Statement

Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today announces its Preliminary Results for the year to 31 March 2008:

• Turnover increased by 9.2% to £176.5 million (2007: £161.6 million) 
• On a constant currency basis, turnover growth was 11.6% and trading profit increased by 57.8%
• Adjusted profit before tax rose by 26.7% to £9.5 million (2007: £7.5 million)
• Adjusted EPS up 21.9% to 11.7 pence (2007: 9.6 pence)
• Recommended final dividend of 6.0 pence, making a total for the year of 8.4 pence, unchanged from last year
• Acquisitions of Worldwide Analytical Systems and VeriCold bring important technological and market synergies and are already contributing to growth
• Strategic repositioning of the Group towards future growth markets is now yielding tangible and positive results

Nigel Keen, Chairman of Oxford Instruments plc, said:  “We have continued to make good progress towards our plan to double the size of the business and to improve margins significantly.  We have enjoyed a year that has combined strong organic growth with successful acquisitions which are already contributing to earnings and have given us access to important new technologies. 

“While it is still early in the current financial year, trading to date has been in line with the Board’s expectations.  Despite the challenging economic environment, our end markets remain resilient, driven by the demand for products that deliver environmental and safety benefits.  These factors make us confident in our ability to deliver long term profitable growth”.

For full details of this Announcement, please see the attached pdf.

 

Enquiries:

Oxford Instruments plc;                Tel:  +44 (0)1865 393 200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director

Hogarth Partnership;                   Tel:  +44 (0) 20 7357 9477
Rachel Hirst
Andrew Jaques
Ian Payne