Oxford Instruments Plc, maker of the Helios 2 synchrotron for X-ray lithography has posted healthy full year results. Pre-tax profits for the year rose 19% to 21.5m British pounds on revenue that rose 16% to 146.3m pounds. In his statement executive chairman Peter Williams said the fiscal has seen rewarding progress in the growth of the company. A significant feature of the year was profitable trading in the firm’s US, Germany and Japanese sales and service companies, he said. Despite a good performance from the Oxford Magnet Technology joint venture with Siemens AG, to develop magnets for Magnetic Resonance Imaging, the market is becoming increasingly competitive. In the future Williams said it is unlikely that, negative pricing trends will be sufficiently offset by volume growth and productivity gains for this level of performance to be sustained. Helios 2, the second synchrotron, is close to completion. Oxford said it would soon be ready to demonstrate the product. As yet th ere are no potential customers lined up, but the company said a number of customer visits have taken place to IBM Corp’s US facility at East Fishkill, New York, where Helios 1 is already installed. Elsewhere, research and development expenditure increased by 18%. During the period Dr Andrew Mackintosh took over as chief operating officer, a post previously held by chairman Peter Williams. A dividend of 6.5 pence will be paid, up 14% on last time.
