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Oxford Metrics Says Not To Meet FY22 Market View; Stock Down

Shares of Oxford Metrics plc (OMG.L) were losing around 9 percent in the morning trading in London after the smart sensing software company Tuesday said its Board does not now believe the company to meet its fiscal 2022 market expectations.

In an update on trading for the year ending September 30, the company noted that the global supply chain issues facing the industry have led to the deferment of around 3.5 million pounds of shipments in the current financial year.

Meanwhile, the company has continued to experience high levels of market demand and currently holds its largest ever level of orders-in-hand.

The company said, "Conscious of the well-reported supply chain challenges, the Group had been monitoring the situation closely as it approached its year end and has been able to mitigate the margin impact of the deferred orders to some extent."

The company now anticipates that these orders, previously expected to be fulfilled in this financial year, will now be shipped in first half of fiscal 2023.

In London, Oxford Metrics shares were trading at 80.94 pence, down 8.54 percent.

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