AGM Statement (0838O)
13 9월 2011 - 3:00PM
UK Regulatory
TIDMOXIG
RNS Number : 0838O
Oxford Instruments PLC
13 September 2011
13(th) September 2011
Oxford Instruments plc
Chairman's AGM Statement 2011
Oxford Instruments plc, the high technology tools and systems
company, is holding its Annual General Meeting today at which the
Chairman, Nigel Keen, will make the following statement:
In June this year, we reported on our progress over a five year
period that delivered significant growth and margin improvement. We
achieved an average organic growth rate of over 12% per annum and
improved our net margins from around 3% to over 10%. We also
outlined the next strategic plan for the Group, our 14 cubed
strategy. The plan seeks to achieve a compound annual growth rate
of 14% and a return on sales of 14% by 2014. It is anticipated that
this target will be achieved predominantly through organic growth
and continuing internal efficiency improvements. It will also be
supported by targeted, bolt on acquisitions. We announced the first
two of these acquisitions, Omicron NanoTechnology GmbH and
Omniprobe, Inc. on the 14(th) June this year. These businesses fit
well with our Nanotechnology Tools sector and integration is
proceeding to plan.
Our research markets continue to benefit from strong demand as
customers use Oxford Instruments' equipment to develop new
techniques and products in areas such as Micro-Electro-Mechanical
Systems (MEMS), which are used in a growing number of applications
including motion sensors for electronic devices and airbags.
Our industrial markets are also robust, particularly in Asia.
Customers use Oxford Instruments equipment to implement high
technology manufacturing strategies in areas such as next
generation photovoltaic devices, and to show compliance to
environmental standards. This sustained strengthening of demand,
coupled with the volume shipments of superconducting wire on the
ITER programme, means that our industrial sector businesses are
showing better performance than in the prior year.
The Service division continues to perform well across all our
aftermarket revenue streams with our customers showing an increased
willingness to take on multi-year service contracts for our high
technology equipment.
We are seeing strength in all our business sectors and
notwithstanding uncertainty in global economies, we believe the
diversity of our activities, combined with our strong pipeline of
new products, will continue to provide growth opportunities for the
Group. Accordingly, the Board anticipates that Oxford Instruments
will continue to make good progress in line with its expectations
for the financial year.
Enquiries:
Oxford Instruments plc Tel: 01865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director
MHP Communications Tel: 020 3128 8100
Rachel Hirst / Ian Payne
Notes to Editors
Oxford Instruments designs, supplies and supports
high-technology tools and systems with a focus on research and
industrial applications. It provides solutions needed to advance
fundamental physics research and its transfer into commercial
nanotechnology applications. Innovation has been the driving force
behind Oxford Instruments' growth and success for over 50 years,
and its strategy is to effect the successful commercialisation of
these ideas by bringing them to market in a timely and
customer-focused fashion.
The first technology business to be spun out from Oxford
University over fifty years ago, Oxford Instruments is now a global
company with over 1800 staff worldwide and has recently entered the
FTSE250 index of the London Stock Exchange (OXIG). Its objective is
to be the leading provider of new generation tools and systems for
the research and industrial sectors.
This involves the combination of core technologies in areas such
as low temperature and high magnetic field environments, Nuclear
Magnetic Resonance, X-ray and optical based metrology, and advanced
growth, deposition and etching.Our products, expertise, and ideas
address global issues such as energy, environment and health.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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