The Oxford Instruments Board is recommending a final dividend of 14.9p (2022: 13.7p) per share. This would result in a total dividend of 19.5p (2022: 18.1p) per share, growth of 7.7%. An interim dividend of 4.6p per share was paid on 13 January 2023. The final dividend will be paid, subject to shareholder approval, on 22 August 2023 to shareholders on the register as at 14 July 2023.
Other financial highlights include:
Strong growth in orders of 20.9% to £511.6m, 14.2% at constant currency
Reported order book of £319.6m, growth of 19.2% at constant currency
Revenue growth of 21.1%, 14.0% at constant currency, 70% driven by volume, partially constrained by supply chain disruption and export licence refusals
Adjusted operating profit of £80.5m, growth of 21.4% (13.4% at constant currency) with currency tailwind supporting strong growth. Margin in line with the prior year, despite the inflationary environment, supply chain challenges and investment across the Group to support growth
Net cash increased to £100.2m, with normalised cash conversion of 88%. Strong ROCE of 35%
