Oxford Instruments anticipates upturn in sales

Oxford Instruments is predicting a successful three-quarters of the financial year.

In a recent trading update, the firm anticipated that sales over the coming nine months are to meet expectations.

"Our core markets remain robust and overall, the board’s expectations for the full year remain unchanged," the company advised.

The strength of the company’s analytical business was cited as one of the key areas driving profitability.

"In superconductivity, the businesses have continued to improve," Oxford Instruments claimed.

While a downturn in magnetic resonance imagery (MRI) sales was noted, the firm added that "in both [superconductivity and MRI] divisions, introduction of new products will accentuate the second-half weighting of profits".

And although current dollar exchange rates were listed as a factor affecting the perceived value of the firm, sales in the US remain strong.

Oxford Instruments produces more than 500 tonnes of low-temperature superconducting wire each year for use in magnetic applications such as MRI scanners.