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Nanotech boosts Ox Instruments
Industry technology firm Oxford Instruments yesterday reported adjusted pre-tax profit of £23.1m over the six months to September, up 23.5 per cent from the previous year. Revenue was up 7.4 per cent to £170.8m over the period, driven by a continued increase in global demand for nanotechnology tools. In this division – which represents 47 per cent of Oxford Instruments’ revenue – profits grew by 42 per cent. Meanwhile, in its industrial products sector, which represents 36 per cent of group revenue, profits grew by 15 per cent, while the service sector division reported a 16 per cent jump in profits. Shares closed up 1.67 per cent yesterday at 1,279p.