Oxford Instruments PLC Trading Update (5358G)
18 3월 2020 - 4:00PM
UK Regulatory
TIDMOXIG
RNS Number : 5358G
Oxford Instruments PLC
18 March 2020
Oxford Instruments plc
Trading Update 18 March 2020
Oxford Instruments plc, a leading provider of high technology
products and services to industrial companies and scientific
research communities, is today issuing a trading update.
Given the current uncertainty from Covid-19 and the impact on
trading, Oxford Instruments plc is issuing its pre-close for the
financial year 2019/20 earlier than usual.
The severe disruption as a result of Covid-19 has impacted our
customers, with a number of product shipments and installations in
the final quarter of the financial year being delayed, in addition
to an enforced site closure in California. While we are seeing some
re-opening of customer sites in China, the situation in Europe and
North America is deteriorating. As a result, the Group currently
expects adjusted operating profit for the full year of between
GBP47m to GBP50m.
Looking ahead, we expect current events to adversely impact
trading during the first half of the financial year 2020/21, but at
this stage there remains considerable uncertainty. The Group has a
strong balance sheet and substantial liquidity, with net cash of
over GBP50m. We operate in robust markets with a well-positioned
portfolio of products and solutions for attractive end markets. We
remain committed to our strategy and would expect trading to
recover in line with a reduction in disruption from Covid-19.
Oxford Instruments' results for the year ended 31 March 2020
will be released on 9 June 2020.
Note: Oxford Instruments compiled consensus analyst forecast for
adjusted operating profit (year to 31 March 2020) is GBP53.3m. This
excludes analysts that have not updated forecasts following the
disposals of OI Healthcare and our share in Scienta Omicron.
Enquiries:
Oxford Instruments plc Tel: 01865 393200
Ian Barkshire, Chief Executive
Gavin Hill, Group Finance Director
MHP Communications Tel: 020 3128 8100
Rachel Hirst/Alice McLaren
- Ends -
Issued for and on behalf of Oxford Instruments plc
Notes to Editors
About Oxford Instruments plc
Oxford Instruments designs, supplies and supports
high-technology tools and systems with a focus on research and
industrial applications. Innovation has been the driving force
behind Oxford Instruments' growth and success for 60 years,
supporting its core purpose to address some of the world's most
pressing challenges.
The first technology business to be spun out from Oxford
University, Oxford Instruments is now a global company and is
listed on the FTSE250 index of the London Stock Exchange (OXIG).
Its strategy focuses on being a customer-centric, market-focused
Group, understanding the technical and commercial challenges faced
by its customers. Key market segments include Semiconductor &
Communications, Advanced Materials, Healthcare & Life Science,
and Quantum Technology.
Their portfolio includes a range of core technologies in areas
such as low temperature and high magnetic field environments;
Nuclear Magnetic Resonance; X-ray, electron, laser and optical
based metrology; atomic force microscopy; optical imaging; and
advanced growth, deposition and etching.
Oxford Instruments is helping enable a greener economy,
increased connectivity, improved health and leaps in scientific
understanding. Their advanced products and services allow the
world's leading industrial companies and scientific research
communities to image, analyse and manipulate materials down to the
atomic and molecular level, helping to accelerate R&D, increase
manufacturing productivity and make ground-breaking
discoveries.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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