Oxford Instruments revenue, profit improving
StockMarketWire.com - Oxford Instruments, which manufacturers tools for industry and research, said its revenue and operating profit were both tracking ahead of the previous year.
Chairman Neil Carson said the company was also getting a foreign exchange tailwind.
'Reported revenue and operating profit year to date is above last year, with modest constant currency progress supported by favourable currency movements,' Carson said in speech notes for the company's annual general meeting.
'Looking ahead, we expect the second half of the financial year to benefit from the normal seasonal bias, with expectations for the full year remaining unchanged."'
Oxford Instruments said its compiled analyst forecast range for adjusted operating profit for the year through March was £51.5m-to-£53.0m, with an average consensus of £52.5m.
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