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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. plans to start using American-made processors from the new advanced chip factory in Phoenix, Arizona operated by chip giant Taiwan Semiconductor Manufacturing Co., according to its Chief Executive Officer Tim Cook. At an event in the factory in Arizona, which was attended by U.S. President Joe Biden, it was also announced that TSMC will invest $40 billion in the new factory. Lidl US has recalled its 8.4 oz Favorina branded Advent Calendar, i.e., Premium Chocolate with a Creamy Filling, citing potential Salmonella contamination, the U.S. Food and Drug Administration said. The products were available for sale at Lidl stores between October 12, 2022 and December 5, 2022. They will have a BEST IF USED BY year of 2023, and barcode number of 4056489516965. Vaccine partners Pfizer Inc. and BioNTech SE are seeking emergency use authorization or EUA from the U.S. Food and Drug Administration to offer their bivalent COVID-19 vaccine to children 6 months through 4 years of age. If authorized, the vaccine would be part of a primary series for children in this age group.
Follow RTT