Download full report with analyst certification and important disclosures
Jun 11 2024, 08:40 IST/BST
Oxford Instruments
Prelims in line, positive strategy update
- Sectors : Capital Goods
- Companies : Oxford Instruments
DAVY VIEW
Oxford Instruments has delivered preliminary results in line with expectations. The strategy update targets look to be ambitious enough: 5-8% organic growth and 20%+ margins. A small Swiss acquisition also adds to the product portfolio and still leaves a healthy cash pile for further M&A/investment. FX headwinds have increased again, offset by acquisition contribution, to leave FYMarch25 guidance unchanged. The shares continue to look good value, and we reiterate our ‘Outperform’ rating.
