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Sales And Profits Revive Fortunes At Oxford Instruments Plc

Shares in Oxford Instruments (LSE: OXIG) flew up over 14% in early trade, rebounding from recent bad sentiment following a positive interim management statement this morning.

The provider of high technology tools and systems for industry and research saw “much-improved” sales and profits in the third month of the quarter from 1 April 2013 to date, after a slow start to the year in the first two months due to a very strong comparative period in 2012.

Average monthly order intake in the quarter was above the monthly average for the last financial year in Asia by 18%, but below in North America by 20% and in Europe by 1%.

Management confirmed that it anticipates the company will continue to make progress in line with its expectations for the remainder of the financial year, with its “strong pipeline of new products” continuing to underpin the long-term prospects. 

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> Sam does not own shares in Oxford Instruments.