Oxford Instruments PLC shares rose on Wednesday after the FTSE 250 firm said that it expects revenue and adjusted operating profit for financial 2022 to be marginally ahead of expectations.

Shares were up 8.8% at 2,258.50 pence each on Wednesday morning in London.

The Abingdon, England-based manufacturing and research company said its performance reflects good progress in the second half of the financial year ended March 31.

Oxford Instruments credited this to strong order growth, supported by resilient end markets.

This also resulted in a ‘healthy’ order book as it entered the current financial year.

The company expects to deliver further improvement in its operating margin, as its Horizon strategy drives growth in ‘end markets, improved operational efficiency and the transformation of its service offering.’

Oxford Instruments plans to release its results on June 14.

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