- High-tech equipment provider Oxford Instruments reported an 8.7% fall in first-half profit owing to movements in the value of currency derivatives, though its underlying earnings jumped.

Pre-tax profit for the three months through September fell to £11.6m, even as revenue rose 11% to £147.0m.

Adjusted pre-tax profit rose 22% to £19.8m and orders rose 10.3% to £162.9m.

The company declared an interim dividend of 3.8p per share, up 2.7% on-year.

'We continue to make good progress with the implementation of our horizon strategy whilst maintaining a focus on the near-term delivery of improved performance,' chief executive Ian Barkshire said.

'The strategy is now well embedded across the group and we are starting to see positive results with good underlying order and revenue growth.'

At 10:02am: [LON:OXIG] Oxford Instruments PLC share price was +10p at 994p

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