GCIOxford Metrics: Progressive
Oxford Metrics’ trading update for the year ending 30 September 2024 disclosed that results are expected to be materially below market expectations. Full-year revenue is expected to be in the range of £40-42m. We have adjusted our estimates for FY24 revenue to £41.0m and adjusted PBT to £3.4m. While management still sees healthy underlying sales interest in H2, there has been a wider level of caution from customers globally. The balance sheet remains healthy with c.£50m cash at present, and there is no direct impact to OM’s ability to pursue its stated M&A ambitions in the exciting and growing smart manufacturing space.
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