Oxford Instruments H1 Pre-tax Income, Revenue Climb

Oxford Instruments Plc (OXIG.L), a British maker of tools and systems for industry and research, on Tuesday reported a rise in pre-tax earnings for the first-half, amidst an improvement in revenue.

Richard Tyson, CEO of Oxford Instruments, said: “This is a very robust set of results for Oxford Instruments. Our focus on specialist niches within structural growth markets has supported strong revenue and adjusted operating profit growth at constant currency (7.5% and 6.5% respectively), and our positive book-to-bill of 1.07 and order book growth of 10% demonstrates continued strong global demand for our leading products and services.”

For the six-month period to September 30, the company posted a pre-tax income of 29.6 million pounds, higher than 26.6 million pounds, reported for the same period of previous year.

Excluding items, pre-tax income moved up to 37.5 million pounds from previous year’s 37.3 million pounds.

After tax, profit stood at 22.3 million pounds or 38.1 pence per share as against last year’s 20.7 million pounds or 35.4 pence per share.

Adjusted post-tax income moved down to 28.5 million pounds or 48.7 pence per share from previous year’s 29.3 million pounds or 50.2 pence per share. .

Operating income was at 28.6 million pounds, compared with 26.3 million pounds a year ago. Adjusted operating earnings were at 36.5 million pounds, versus 36.8 million pounds in 2022.

Adjusted EBITDA stood at 41.9 million pounds, compared with 41.9 million pounds a year ago.

The Group’s order book stood at 331.7 million pounds, higher than last year’s 315.7 million pounds.

Revenue was 209.7 million pounds, up from 200.5 million pounds a year ago.

The Group will pay an interim dividend of 4.9 pence per share, which represents a 6.5 percent increase from last year’s 4.6 pence per share. The interim dividend will be paid on January 12, 2024 to shareholders on the register as of December 1, 2023.

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