Oxford Instruments reports sales in line with two-year plan

Oxford Instruments, a leading provider of medical, hospital and scientific research equipment, has announced that its current progress is in line with its predictions for the current financial year.

In a statement issued on the progress, Oxford’s chairman, Nigel Keen, said that they were succeeding in adhering to a carefully-planned 14 cubed objective to manage compound annual revenue growth rate of 14 per cent and a return on sales of 14 per cent by March 2014.

He explained that 2012 was the first year that the plan has been in place, and organic growth and efficiency improvements have helped it to so far get off to a flying start.

“The year to March 2012 was the first year of the 14 Cubed plan and we reported sales growth of 29 per cent split equally between organic growth and the three bolt-on acquisitions we made to strengthen our competitive position,” he explained. “Return on sales also improved in line with our targets, increasing from 10.7 per cent to 12.5 per cent.”

Keen added that the Nanotechnology Tools business had made particularly good progress and that the launch of the new X-MET 7500 hand held material analyser has helped to grow their market share.

http://www.kirkhamyoung.co.uk/news/article/oxford-instruments-reports-sales-in-line-with-twoyear-plan-185918.html

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