Oxford Instruments
OXIG · Main Market · Industrial Goods and Services · mcap £1,508m · 2496.0p 2 open situations →
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Segment turn◷ in 17 days
Imaging & Analysis recovery
Recovery continuing; H1 orders up over 11%
Since the weak H1 FY26 (tariff and funding disruption), I&A has improved each quarter. FY26 orders rose 1.3% OCC and margin rose 120 bps after the Belfast restructuring. H1 FY27 orders rose over 11% on semiconductor and materials science demand, the order book grew c. 5%, and margin improved.
- Belfast actions
- 20% workforce reduction; extra £5.6m cashflow from productivity and lower inventory
- Belfast book-to-bill
- 1.05 for cameras and microscopy product lines
- H1 FY27 orders
- Up over 11% versus prior year
- Order book
- Total division order book up c. 5% versus H1 FY26
- H1 revenue
- Growth c. 2-3%; some smaller product lines replenishing orderbook
- Margin
- Adjusted operating margin improved following a challenging H1 FY26
Next: H1 FY27 results presentation · 10 Nov 2026
- 13 Oct 2026 Recovery continuing; H1 orders up over 11%
- 9 Jun 2026 I&A back to growth; margin up 120 bps
- 14 Apr 2026 I&A back to growth in H2; Belfast savings flowing
- 15 Jan 2026 Q3 orders +2.4%; Belfast savings delivering
Insider conviction
1 director buying
£71k in 1 buy
- 28 Jul 2026 Paul Fry £71k
Closed · 3
Company filings. Not investment advice.