Andor owner announces healthy rise in its profits

THE parent company of west Belfast scientific camera firm Andor Technology has reported pre-tax profits of £34.2m.

Oxford Instruments has now reversed a pre-tax loss of £26.2m which it faced last year.

In its preliminary results for the year to the end of March 2018, it also reported revenue of £296.6m, down 1%.

Andor, which employs around 290 people at Springvale Business Park, started out as a spinout company from Queen’s University before its 2015 acquisition.

Oxford Instruments chief executive, Ian Barkshire, said the outlook was positive for the group.

“Our chosen end markets remain robust and, combined with our customer applications focus and improved core capabilities, provide strong longterm drivers for future growth and margin improvement,” he commented.