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(Sharecast News) - Oxford Metrics shares were sliding on Wednesday morning, even after it reported a modest improvement in first-half trading and set out medium-term targets to double revenue, lift recurring and repeatable revenue to about 25% of the group total and increase adjusted EBIT margins to the mid-teens.
The AIM-traded smart sensing and measurement technology group said revenue rose 3% to £20.7m in the six months ended 31 March, while its adjusted EBIT loss narrowed to £0.2m from £0.4m.
Motion capture revenue increased 10% to £16.3m, supported by growth in entertainment and engineering and international contract wins, while vision metrology revenue fell to £4.4m from £5.3m due to the timing of customer projects now expected later in FY26.
Oxford Metrics said expectations for its extended 15-month FY26 period remained unchanged, with revenue expected to be about £56m, although part of a Vision Metrology project had moved into the final quarter of the year.
Chief executive Imogen O'Connor said the first half showed "further progress", adding that a strong balance sheet, clearer operating structure and cost-base alignment left the group well placed for the rest of FY26 and beyond.
At 0851 BST, shares in Oxford Metrics were down 4.57% at 44.61p.
Reporting by Josh White for Sharecast.com.
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