- High-tech product provider Oxford Instruments swung to an annual profit after it boosted margins and benefited from foreign exchange gains.

Pre-tax profit amounted to £34.2m, compared to a loss in the previous year of £26.2m.

Revenue slipped 1.1% to £296.9m but margins increased 300 basis points to 15.7%.

The company declared a full year dividend of 13.3p, up 2.3%.

'Our chosen end markets remain attractive, supported by commercial and government investment,' the company said.

'Our growing order book, customer application focus and drive for operational efficiencies provide confidence for the year ahead.'

'We expect to see an improvement in performance on a reported basis after allowing for the impact of an anticipated currency headwind, based on current exchange rates.'

At 8:17am: [LON:OXIG] Oxford Instruments PLC share price was +15p at 930p

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