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Oxford Instruments sees 2nd-half revenue below market expectations
January 22, 2015 / 7:37 AM / 3 years ago

Oxford Instruments sees 2nd-half revenue below market expectations

Jan 22 (Reuters) - Oxford Instruments Plc, a maker of nanotechnology tools, said it expected higher revenue for the second half, but would fall short of market expectations due to weak trading in Russia and Japan.

The company, which makes maintenance systems and parts for CT and MRI scanners, said it expected adjusted pretax profit to be about 35 million pounds ($53 million) for the year ending March 31, compared with 47.1 million pounds a year earlier.

Its Russia operations suffered due to the recent trade sanctions and cancellation of certain export licences, the company said.

“We now assume that no sales can be made to Russia for the remainder of this year and we are also assuming no sales to Russia next year,” Oxford Instruments said. ($1 = 0.6607 pounds) (Reporting by Aastha Agnihotri in Bengaluru)

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