StockMarketWire.com - Scientific instrument supplier Oxford Instruments warned on profits as the spread of the coronavirus hobbles its customers' activities.

Adjusted operating profit for the year through March was seen at between £47m and £50m, the company said, without providing a comparative figure.

Last year, it posted an adjusted operating profit of £49.7m.

Oxford Instruments also warned of a hit to its results in the first half of the current financial year, though didn't quantify the damage.

'The severe disruption as a result of Covid-19 has impacted our customers, with a number of product shipments and installations in the final quarter of the financial year being delayed, in addition to an enforced site closure in California,' the company said.

'While we are seeing some re-opening of customer sites in China, the situation in Europe and North America is deteriorating.'

Oxford Instruments said it had a 'strong' balance sheet and substantial liquidity, with net cash of over £50m.'


At 8:45am: [LON:OXIG] Oxford Instruments PLC share price was -31.5p at 972.5p



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