(Adds revenue details, dividend, outlook, share movement)
June 10 Technology tools maker Oxford
Instruments Plc reported a marginal rise in full-year
adjusted pretax profit as benefits from an increase in orders
were partially offset by a strong pound.
The company said orders for the first two months of the
current financial year were ahead of the same period last year
on both a reported and constant currency organic basis.
Oxford Instruments raised final dividend by about 11 percent
to 9.04 pence per share.
The company, which makes CT and MRI maintenance systems and
parts, cryogenic systems and nanotechnology tools, said adjusted
pretax profit rose to 47.1 million pounds ($79 million) in the
year ended March 2014, from 47 million pounds a year earlier.
Revenue rose 2.7 percent to 360.1 million pounds, with a
contribution of 27.4 million pounds from acquisitions in the
period, the company said. Orders grew by 2.5 percent to 342.2
Oxford, which gets only 9 percent of its total revenue from
the UK, said adverse foreign exchange rate movements reduced
reported sales by 5.9 million pounds. About 25 percent of its
revenue comes from North America.
The pound appreciated 9.45 percent against the dollar
in the year through March 2014. The currency hit a five-year
high against a host of currencies including the dollar in
mid-February on expectations that the Bank of England would be
the first major central bank to raise interest rates.
Revenue from Oxford's largest unit, nanotechnology tools,
which includes its NanoAnalysis, Omniprobe and Asylum, Plasma
Technology and Omicron NanoScience businesses, rose 8.7 percent
to 180.6 million pounds.
Oxford's industrial products business saw an 8.3 percent
fall in revenue at 114.7 million pounds, while its service unit
saw a 9.5 percent rise in revenue.
Shares in the company rose 1.9 percent to 1370 pence in
early trading on Tuesday on the London Stock Exchange.
($1 = 0.5956 British Pounds)
(Reporting by Noor Zainab Hussain in Bangalore; Editing by