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High-tech product supplier Oxford Instruments said it expected full-year trading to be 'slightly ahead' of expectations, even as it faces currency headwinds.
'Order and revenue growth has been strong in the first five months of the year, supported by positive underlying demand across our markets, and across both commercial and academic customers,' chairman Neil Carson said in an AGM trading update.
He added, however, that currency effects had an adverse impact on revenue and operating profit, as sterling strengthened against key trading currencies.
Oxford Instruments was anticipating a headwind effect on full year-revenue and operating profit of about 4% and 3%, respectively.
'A healthy pipeline across the breadth of our markets, a strong order book and the expected contribution following the acquisition of WITec, supports our view that trading for the full year will be slightly ahead of expectations,' Carson said.
'Covid-19 continues to disrupt supply chains and is heightening uncertainty for forecasting.'