Oxford Instruments on target for growth

4:55pm Tuesday 23rd September 2008

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The top boss of hi-tech engineering firm Oxford Instruments has delivered an upbeat assessment of his company's fortunes.

Nigel Keen, chairman of the business based at Tubney Woods, near Abingdon, said the decision made two years ago to focus on future growth markets such as the environment and nanotechnology was paying off.

He added: "Though becoming increasingly competitive, these markets show strong intrinsic growth, notwithstanding the current economic turmoil.

"This resilience, coupled with an increasingly commercial approach across the group, provides firm foundations for a successful and sustainable growth model."

Speaking at its annual general meeting, Mr Keen explained the company was on track to double in size over the next five years.

"Despite the general economic uncertainty, our turnover and order intake to date this year are ahead of the same period last year," he said.

"As a result, the board remains confident that the outcome for the full year will meet its expectations."