Half Year Results 

Oxford Instruments: revenue flat, but debt down

Oxford Instruments: revenue flat, but debt down

Bosses at Oxford Instruments (OXIG) seek to improve margins and deliver long-term growth via the ‘Horizon Strategy’, announced in June. That's probably not a bad idea given a 4.5 per cent revenue decline at constant currencies (CC) at the half-year mark. Positive translation effects also served to boost the adjusted operating margin by 180 basis points, but strip these out and adjusted operating profit contracted 12.2 per cent, principally on reduced volumes in the research and discovery segment.  

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