Oxford Instruments Says Profit Rises on China Sales Growth
Stock Chart for Oxford Instruments PLC (OXIG)
Profit climbed to 10.2 million pounds ($16.3 million) from 4.1 million pounds a year earlier, the company said in a Regulatory News Service statement today. The Witney, southern England-based company said sales rose 22 percent to 113.2 million pounds, led by a 52 percent increase in China.
“Our order book is at a record high and current levels of customer interest indicate that demand will continue to be strong for the remainder of the current financial year,” Nigel Keen, chairman of Oxford Instruments, said in the statement.
The company reported its first annual profit in three years in March, helped by demand for environmental and safety products. Oxford Instruments is now nearing the end of a five- year plan it announced in 2006 to double the size of its business, which it now says will be delayed for two years because of recessionary pressure.
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