LONDON (dpa-AFX) - Shares of Oxford Instruments PLC (OXIG.L) were gaining around 6 percent in London trading after the provider of high technology tools and systems Thursday said it expects adjusted operating profit for the full year to March 31, 2019 to be around the higher end of expectations, despite a small adverse currency effect.
In its trading update, the company said it compiled analyst forecast range for adjusted operating profit for the year between 46 million pounds and 49.2 million pounds.
As predicted, trading in the second half of the year was supported by a strong order book and normal second half seasonal bias, the company noted.
A good cash conversion during the year has resulted in the Group achieving a positive net cash position as of March 31.
Oxford Instruments' results for the year will be released on June 11.
In London, Oxford Instruments shares were trading at 1,064 pence, up 6.40 percent.
Copyright RTT News/dpa-AFX
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