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Oxford Instruments promoted to FTSE 250

by Brendon Nafziger, DOTmed News Associate Editor | September 08, 2011
Oxford Instruments plc. said Thursday it was promoted to the FTSE 250, a list of mid-sized companies on the London Stock Exchange, only a few months after posting the best financial gains in its 51-year history.

"It reflects the huge steps forward the Group has made during recent times," said Jonathan Flint, the company's chief executive, in a statement.

Oxford is involved in many high-tech fields, but is possibly best known to the U.S. health care crowd for its cryogenic services for MRI magnets.
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The company said attaining the FTSE 250 was a corporate milestone and shows how much the enterprise has grown.

In a June financial statement, Oxford posted before-tax profits for its most recent fiscal year, ending in March, of 26.2 million pounds ($42.3 million) and earnings per share of 41.5 pence (66 cents) -- both more than double last year's figures.

The FTSE 250 covers around 13.2 percent of UK market capitalization, according to the FTSE Group. Other recent entrants to the list include Ophir Energy, a UK-based oil and gas exploration firm, Kentz Corp., an Irish engineering firm, and Hansen Transmissions, a Belgian maker of wind turbines and gearboxes.

The FTSE 250 inclusions were announced at an FTSE committee meeting Wednesday, and take effect Sept. 19.

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