High-tech engineering firm Oxford has issued an upbeat prediction for its trading performance over 2011.

The company, based at Tubney Woods, near Abingdon, which tripled its pre-tax profits for the last half of its financial year in 2010, said orders, sales and profits were “well ahead” of the same period last year.

In a statement it said research markets remained “robust” and orders in its industrial sector which recovered in the first half of last year, have continued at a similar level since September.

The statement added: “The diversity of markets served both commercially and geographically, combined with the group's pipeline of new products, will continue to provide growth opportunities.

“The board anticipates Oxford Instruments will continue to make good progress in line with its expectations for the remainder of the financial year.”

The company, which has seen its Oxfordshire workforce grow by about ten per cent in the last year to 220, has seen its share price rocket from 225p a year ago to a high of 739p recently.