Oxford Instruments PLC (AIM:OXIG) reported positive progress in the first half of the year with good demand continuing from companies and scientific research communities.
Though growth has been "tempered" by global supply chain challenges, as well as price rises not yet offsetting inflationary pressures due to the phasing of the order book, the FTSE 250-listed company said the group remained on track to meet full-year expectations.
On the plus side, orders were said to be up compared to the prior year and also ahead of revenues in the period, on a constant currency basis.
The pipeline is "robust" across all end markets, the company added, with higher production expected in the second half, combined with the positive impact of recent price increases as we convert our record order book.
Broker Peel Hunt said the delay in pricing actions "will help 2H".
The shares rose 3.5% to 1,780p on Thursday morning, where they are down over 31% in the year to date.