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Oxford Instruments set to hit target
Bosses at hi-tech engineering firm Oxford Instruments say they are on track to reach a major financial target.
Speaking at the company’s annual general meeting, chairman Nigel Keen said: “In June 2011 we outlined our 14 Cubed objective to achieve a compound annual revenue growth rate of 14 per cent and a return on sales of 14 per cent by the financial year ending March 2014.
“It is anticipated that this objective will be achieved predominantly through organic growth and continuing internal efficiency improvements, augmented by targeted bolt on acquisitions.”
The company based at Tubney Woods, near Abingdon, picked up its 13th Queens Award for Enterprise this year and is the 2012 Oxfordshire Business of the Year.
Mr Keen added: “Despite the ongoing uncertainties in global economies, we believe the diversity of our activities combined with our strong pipeline of new products will continue to provide good growth opportunities for the group.
“The board anticipates Oxford Instruments will continue to make progress in line with our expectations for the financial year.”