The Oxford Instruments plc Board has proposed a final dividend of 15.9p (2023: 14.9p) per share. This results in a total dividend of 20.8p (2023: 19.5p) per share, growth of 6.7%. An interim dividend of 4.9p per share was paid on 12 January 2024. The final dividend will be paid, subject to shareholder approval, on 20 August 2024 to shareholders on the register as at 12 July 2024.
Other financial highlghts:
Revenue growth of 9.8% at constant currency
Underlying book-to-bill positive at 1.03, despite their strategic decision to move away from sensitive product areas in China
Order book at £302m (2023: £320m)
Adjusted operating profit of £80.3m broadly in line with last year (2023: £80.5m); growth of 3.7% at constant currency
Adjusted operating profit margin 17.1% (2023: 18.1%) down 100bps, primarily reflecting losses incurred in their quantum business as a result of ceasing commercial activities in China and continued operational investment
Normalised cash conversion of 64%, excluding expenditure on facility expansion, reflects increase in working capital to support major site move and growth
