Oxford Instruments shares jump 14% on strong order momentum
UK scientific tools maker Oxford Instruments (OXIG.L) saw its shares surge more than 14% on Tuesday after reporting renewed order momentum and raising its outlook for the remainder of the year.
The company, which produces systems for scientific research and advanced industrial applications, also increased its share buyback program by £50 million, bringing the total to £100 million ($67.1 million), News.Az reports, citing Reuters.
Oxford Instruments cited a recovery in its Imaging & Analysis (I&A) segment and strategic supply chain adjustments across three continents. Measures included producing electron microscopy detectors in China for local customers, moving atomic force microscope production from the U.S. to Germany, and shifting nanoindentation manufacturing from Switzerland to the UK.
The company said these moves helped mitigate the impact of global trade disruptions and tariffs, which had affected orders earlier this year.
Similar news
