Shares in Oxford Instruments (OXIG) remain in the trough they fell into after September's damp AGM statement. Judging by the commentary associated with this week's interim results, the tough trading backdrop that prompted that profit warning is here to stay.
IC TIP:
Hold
at
604p
Despite this, chief executive Jonathan Flint insisted he was "really quite pleased" with the technology tools group's performance in the six months to September, thanks in part to 21 per cent organic growth in the order book since January. The long-term structural growth in demand for nanotechnology remains the biggest source of hope, amid falling constant-currency revenues in North America and Europe and a 15 per cent decline in China so far this year.