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High-tech products supplier Oxford Instruments booked a 5.9% rise in first-half profit on the back of higher sales and fatter margins.
Pre-tax profit for the six months through September increased to £21.4 million, up from £20.2 million year-on-year, as revenue climbed 21% to £170.1 million.
Adjusted pre-tax profit jumped 27% to £30.2 million amid a 70-basis-point improvement in operating margin to 18%.
Oxford Instruments declared an interim dividend of 4.4p per share, up 7.3% year-on-year.
'"We have emerged from the pandemic a stronger, more focused and efficient business, even more aligned to the needs of our customers in end markets with structural growth drivers,' chief executive Ian Barkshire said.
'Whilst supply chain pressures will moderate conversion of orders to revenue and drive cost inflation in the second half, our strategic alignment to a range of attractive end markets, combined with our strong opportunity pipeline and healthy order book, provides us with good momentum going into the second half.'
'Our expectations for further progress in the year are unchanged.'