Robust trading and positive cash generation through the period has resulted in the The Oxford Instrument Board declaring an interim dividend of 4.1p per share, following last year's declared interim dividend of 4.1p, which, during the early stages of the pandemic, the Board decided not to pay.
Other financial highlights:
Reported orders up 6.0% to £175.7m (2019: £165.7m), an increase of 5.9% at constant currency; book-to-bill ratio of 1.25
Order book of £204.6m (31 March 2020: £175.0m), up 16.9% (16.6% at constant currency)
Reported and constant currency revenue down by 11.0% to £140.3m, affected by customer site closures and the introduction of new covid-related working practices
Adjusted operating profit from continuing operations down 7.3% at £24.3m (a decline of 11.5% at constant currency)
Adjusted operating margin of 17.3% (2019: 16.6%), sustained at 16.6% constant currency despite the revenue decline
Net cash grew to £81.4m, aided by good operating cash flow (97% cash conversion). At the end of September, the Group had total headroom of approximately £214m, including the undrawn £105m credit facility
