Preliminary Results for the financial year ended 30 September 2016

6th December 2016 - Oxford Metrics (OMG plc LSE: OMG), the international software company servicing government, life sciences, entertainment and engineering markets, announces preliminary results for the financial year ended 30 September 2016.

Financial Key Points

  • Group revenue from continuing operations of £29.5m (FY15: £25.7m)
  • Adjusted PBT* improved to £5.6m (FY15: £4.9m)
  • Net cash balance at 30 September 2016 of £8.3m (FY15: £11.7m)
  • Over the past two years, £16.8m has been returned to shareholders in dividends
  • Proposed Final Dividend increased by 54% to 1.00p (FY15: 0.65p), in line with our stated progressive dividend policy
  • Yotta total revenue up 5.2% to £9.1m; software and related services revenues grew by 21.7%. Adjusted PBT* maintained at £2.0m (FY15: £2.0m) reflecting investment to establish an Australian subsidiary in H2
  • Vicon revenue up 19.4% to £20.4m with improved Adjusted* PBT to £5.9m (FY15: £5.3m)

Operational Key Points

  • Further international expansion for Yotta with 5 year contract extension with Amey plc to deploy Horizons at customer sites in UK, Australia, New Zealand and Spain
    • Appointment of Lehmann and Partner as Yotta’s new distributor in Germany
  • Solid traction with next generation motion measurement camera Vicon Vantage
  • Well-received launch of Vero and Vue systems – Vero became the fastest selling system in Vicon’s history
  • Vicon’s motion measurement used most recently in the films Dr Strange, Fantastic Beasts and Where to Find Them, FIFA 17 and also in the new RSC production of The Tempest
  • In May 2016, the Group announced its intention to spin out Intellectual Property (“IP”) assets developed inside OMG Life into a new independently funded vehicle, called Pimloc, with Oxford Metrics taking a 27% stake
  • In October 2016, the Board took the decision to discontinue OMG Life’s initiatives to license its remaining camera-based IP to focus on growth opportunities within Vicon and Yotta
  • Appointment of Roger Parry, Non-Executive Chairman
  • Proposed name change to Oxford Metrics plc

Strategy Review

  • Five-year growth plan in place to invest in the future organic growth opportunities
  • Additional investment to be made in FY17 in:
    • International expansion and broadening of product capability in Yotta; and
    • Improvements to Vicon’s existing offering
  • Two key financial objectives have been adopted: by 2021, aim to double Group profit and to triple recurring revenues

*Profit Before Tax from continuing operations before Group recharges adjusted for share based payments, amortisation of intangibles arising on acquisition and redundancy costs. The statutory equivalents of the adjusted numbers shown in this statement are disclosed in notes 3 and 5.

Commenting on the results Nick Bolton, Chief Executive Officer, Oxford Metrics said:

“I’m pleased to report a successful year for Oxford Metrics, delivering near record numbers from our Vicon business and a high level of recurring revenue at Yotta. The combination of these two strong businesses, provide a solid platform to accelerate our future growth.

We are announcing a five-year plan to take the business to the next stage of its development. This will see us amplify our core strengths, making both Vicon and Yotta stronger and better through targeted investments. The goal is for both divisions to broaden and enhance their future profit streams, improve the quality of future earnings and ultimately realise their potential. As we enter a new financial year, Oxford Metrics is a simpler business with a clear focus and we look to the future with confidence.”

View Preliminary Results PDF.

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