Oxford Metrics backs outlook, eyes further cost cuts as loss narrows
Oxford Metrics PLC on Wednesday outlined new mid-term ambitions as it reported higher sales and a trimmed half-year loss.
The Oxford, England-based sensing and measurement technology said its pretax loss narrowed to £1.0 million in the six months ended March 31 from £1.1 million the year prior, as revenue rose 3.0% to £20.7 million from £20.1 million.
Basic losses per share totalled 0.66 pence compared to 1.00p the year prior.
Motion Capture revenue increased by 10% to £16.3 million from £14.8 million on-year, supported by good growth in Entertainment and Engineering and significant international contract wins.
Vision Metrology revenue fell to £4.4 million from £5.3 million on-year, reflecting the timing of certain customer projects now expected to be confirmed later in the financial year.
Gross margin increased to 66.0% from 65.5%, reflecting the stronger mix of revenue from Motion Capture and continued cost discipline.
Expectations for financial 2026 remain unchanged, with revenue for the 15-month period expected to be around £56 million.
The firm has changed its accounting reference date from September 30 to December 31 and as a result financial 2026 will be an extended 15-month period running from October 1 2025 to the end of December this year.
The company said further cost saving opportunities have been identified, expected to deliver annualised savings of £1.0 million to £1.6 million from financial 2027, with further targeted savings planned for the medium term.
Oxford Metrics is hosting an investor event on Wednesday to be hosted by Imogen O’Connor, chief executive officer, and Zoe Fox, chief financial officer.
At this, Oxford Metrics said it will set out the following medium-term ambitions: doubling group revenue through a mix of organic and inorganic activities; increasing recurring and repeatable revenue to around 25% of revenue; and increasing adjusted Ebit margin to mid-teens.
Shares in Oxford Metrics fell 3.3% to 45.20p each in London on Wednesday.
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