Oxford’s revenue up 10%

Oxford Instruments announces increased first-quarter turnover this year.

The high-technology tools and systems provider revealed turnover for the first three months of 2008 reached £176.5 million – up by 9.2 per cent from 2007’s £161.6 million.

A statement by the firm also said turnover growth was 11.6 per cent and trading profit increased by 57.8 per cent.

Nigel Keen, the firm’s chairman, said: "We have enjoyed a year that has combined strong organic growth with successful acquisitions which are already contributing to earnings and have given us access to important new technologies."

Trading so far this year is in line with the board’s expectations despite the challenging financial climate, he added.

Oxford aims to be the leading provider of tools and systems for the emerging nanotechnology and bioscience markets.

It specialises in the design, manufacture and support of high-technology tools and systems for industry, research, education, space, energy, defence and healthcare.