Oxford Instruments FY23 Profit Climbs, Lifts Dividend

Oxford Instruments plc (OXIG.L), a provider of high technology products and services, reported Tuesday that its fiscal 2023 preliminary profit before taxation climbed 54.4 percent to 73.5 million pounds from last year’s 47.6 million pounds.

Basic earnings per share were 101.6 pence, up 51.4 percent from 67.1 pence a year ago.

Adjusted profit before taxation was 82.0 million pounds, compared to 65.9 million pounds last year. Adjusted basic earnings per share were 112.7 pence, compared to 94.3 pence in the prior year.

Revenue climbed 21.1 percent to 444.7 million pounds from 367.3 million pounds in the previous year. Revenue grew 14 percent at constant currency rates.

The company recorded strong growth in orders of 20.9 percent to 511.6 million pounds. Reported order book was 319.6 million pounds, a growth of 19.2 percent at constant currency.

Further, the Board is recommending a final dividend of 14.9p per share, up from last year’s 13.7p. This would result in a total dividend of 19.5p per share, a growth of 7.7 percent.

The final dividend will be paid, subject to shareholder approval, on August 22 to shareholders on the register as at July 14.

Ian Barkshire, Chief Executive, said, “While mindful that the wider macroeconomic context remains challenging, our record order book and strong positions in attractive end markets underpin our confidence in the future growth of the Group. … Full year outlook is in line with our expectations.”

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