Plexus Holdings plc provided earnings guidance for the year ending June 30, 2016. The board anticipates that revenues for first half 2016 will be below £7 million, and revenues for second half 2016 are expected to be approximately 20% below those for first half 2016. To place the revenue reduction in perspective, the last quarter sales for calendar year 2015 were circa 50% below those of the previous quarter with the fall off accelerating in November and December 2015 as indicated in the company's December AGM Statement.

Although second half 2016 will be weaker than first half 2016 it is anticipated that sales will stabilise going into the 2017 financial year prior to what the Directors and other commentators expect to be a strong recovery in relation to exploration drilling activity when the oil price recovers to sustainable levels. As a result of this, the company's financial results for the year to 30 June 2016, which are subject to external audit, will be very significantly below market expectations.