Oxford Instruments (OXIG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

2,150.00p
   
  • Change Today:
    -25.00p
  • 52 Week High: 2,660.00p
  • 52 Week Low: 1,822.00p
  • Currency: UK Pounds
  • Shares Issued: 58.04m
  • Volume: 384,116
  • Market Cap: £1,247.85m
  • RiskGrade: 153

Oxford Instruments sells embattled superconducting unit

By Oliver Haill

Date: Friday 18 Nov 2016

LONDON (ShareCast) - (ShareCast News) - Oxford Instruments has offloaded its superconducting wire unit for $17.5m (£14.1m) cash, relieving the group of one of the main sources of its September profit warning.
OXIG had previously warned that group revenues and profits were being hit due to weakness in the superconducting wire markets, which has been primarily due to pricing pressures from makers of MRI machines and reduced demand for wire from OEM customers.

Chief executive Ian Barkshire said a comprehensive review of the group portfolio had revealed the superconducting wire business to be "no longer core to the group's long-term strategic vision" and so the disposal represents a further step in the group's ongoing strategy of actively managing its portfolio.

In the year to March, the superconducting wire business contributed £42.4m and operating profits of £3.4m to Oxford Instruments' industrial products division, and in the six months to 30 September had made revenues of £19.1m and a profit of £1.1m as the group swung to a small first-half loss before tax.

"The divestment will allow increased focus across the group on our chosen market segments and the cash proceeds will enable us to reduce our net debt, in line with our strategy to deliver enhanced shareholder value," Berkshire said.

Shares in OXIG, which since September's profit warning had fallen almost 20% this week, recovered only very slightly on Friday's news they, climbing 2p or 0.3% to 620p in early trading.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

OXIG Market Data

Currency UK Pounds
Share Price 2,150.00p
Change Today -25.00p
% Change -1.15 %
52 Week High 2,660.00p
52 Week Low 1,822.00p
Volume 384,116
Shares Issued 58.04m
Market Cap £1,247.85m
RiskGrade 153

OXIG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
1.72% below the market average1.72% below the market average1.72% below the market average1.72% below the market average1.72% below the market average
2.86% below the sector average2.86% below the sector average2.86% below the sector average2.86% below the sector average2.86% below the sector average
Price Trend
30.50% above the market average30.50% above the market average30.50% above the market average30.50% above the market average30.50% above the market average
72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average
Income
55.02% below the market average55.02% below the market average55.02% below the market average55.02% below the market average55.02% below the market average
62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average
Growth
8.93% below the market average8.93% below the market average8.93% below the market average8.93% below the market average8.93% below the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average

What The Brokers Say

Strong Buy 3
Buy 4
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

OXIG Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Jul-24 30-Nov-23
Paid 20-Aug-24 12-Jan-24
Amount 15.90p 4.90p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 74,582 @ 2,150.00p
16:35 320 @ 2,150.00p
16:35 10 @ 2,150.00p
16:35 12 @ 2,150.00p
16:35 369 @ 2,150.00p

OXIG Key Personnel

CEO Richard Tyson

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