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Oxford Instruments PLC on Monday said order intake suffered in the first half of its financial year amid tariff disruption meaning full-year revenue is likely to be little changed year-on-year. Chief Executive Richard Tyson said the start of the financial year coincided with the beginning of a ‘turbulent time in our markets’, and despite an ‘improving picture’ in the second quarter, ‘we are now assuming that we will not recover the [first half] revenue shortfall.’ In response, shares in the provider of high technology products and services to industry and scientific research communities plummeted 13% to 1,730.00 pence each in London on Monday morning, hitting an intraday low of 1,690.00p. It was the biggest faller in the FTSE 250 index, itself up 1.1%. Oxford Instruments said it saw ‘contrasting order dynamics’ in its two divisions during the six months to September 30. Tough market conditions meant a greater hit in the Imaging & Analysis arm, it said, with order intake hurt in the first quarter as some customers delayed purchases in response to the ‘shifting global trading environment and resulting broader uncertainty’. But in the Advanced Technologies division, market tailwinds in the compound semiconductor market, and an expansion into volume manufacturing customers, continued to drive ‘very strong’ order growth. Total order intake in the first half was up just over 1% on an organic constant currency basis. It had fallen 3% on-year in the first quarter before rising 6% in the second. Revenue for the half-year is expected to have fallen 10% on-year from £204.2 million, but the firm expects second half revenue to be marginally up versus the second half of 2024. As a result, Oxford Instruments now expects full-year revenue, adjusted operating profit, and its margin to be ‘similar to the prior year’ on an organic constant currency basis. In the financial year to March, Oxford Instruments reported revenue of £500.6 million, adjusted operating profit of £82.2 million and and adjusted operating profit margin of 16.4%. In addition, the company anticipates a further headwind of £1 million to operating profit from foreign exchange in addition to earlier guidance of £4.5 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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