Oxford Instruments to hit profit forecasts

Oxford Instruments, which provides high-tech tools and systems for industry and research, has said that results for the full year are to meet forecasts.

In a brief statement on Tuesday morning, the company said that it continues to trade in line with its objectives and expected adjusted profit before tax (PBT) for the year to March 31st to be in line with market expectations.

Consensus forecasts are for a rise in full-year adjusted PBT from £42m to around £48m, while revenues are expected to increase from £337.3m to £359.5m.

The group is one of the first commercial spin-out companies from Oxford University, developing the world's first superconducting magnet in 1959. Claims to turn "smart science into world-class products" for a wide range of sectors including industrial, energy, environmental, health and research.

BC