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3 Nov 2020 07:00
3 November 2020
Oxford Metrics plc
("Oxford Metrics" or the "Group")
Year End Trading Statement
Oxford Metrics plc (LSE: OMG), the international software company servicing government, life sciences, entertainment and engineering markets, provides the following update on trading for the financial year ended 30 September 2020.
The Group expects to report revenues of Ā£30.3m and an Adjusted PBT* of Ā£2.5m for the financial year. The Group finished the year with a strong cash position of Ā£14.9m and no debt.
Divisionally, Vicon delivered another profitable year and whilst the timing of orders was impacted by COVID-19, as previously reported, it achieved a slightly better performance in the second half than the first half. Market activity for Yotta was muted for a time during the lockdown period but in our final quarter enjoyed a period of improved contract momentum as a result of COVID-19 accelerating the need for Local Authorities to manage their assets remotely. Consequently, ARR growth achieved this year has allowed Yotta to deliver a profitable second half.
The Group's fundamentals remain strong, supported by an encouraging pipeline of opportunities across both divisions and a strong balance sheet which together underpin confidence that the Group will continue to successfully navigate current challenges arising from the pandemic.
The Group expects to announce Preliminary Results for the financial year ended 30 September 2020 on Thursday, 3 December 2020.
* Adjusted PBT* has been determined after adding back non-cash items such as share based payments, amortisation of intangibles arising on acquisition and one-off exceptional costs"
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For further information please contact:
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Oxford Metrics | +44 (0) 1865 261800 |
Nick Bolton, CEO | |
David Deacon, CFO | |
FTI Consulting | +44 (0) 20 3727 1000 |
Matt Dixon / Emma Hall / Jamille Smith / Greg Hynes | |
N+1 Singer (NOMAD to Oxford Metrics) | +44 (0) 20 7496 3000 |
Shaun Dobson / Jen Boorer (Corporate Finance) Tom Salvesen (Corporate Broking) |
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Inside information
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
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About Oxford Metrics
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Oxford Metrics develops and markets analytics software for motion measurement and infrastructure asset management to clients in over 70 countries worldwide. Our list of clients across the globe is as diverse as the markets we operate in; we help highways authorities manage and maintain their road networks, hospitals and clinicians decide therapeutic strategies and Hollywood studios create stunning visual effects. And the diversity of applications is growing all the time.
The group trades through two market-leading divisions: Our motion measurement division, including Vicon, and our infrastructure asset management division, Yotta. Vicon is the world's leader in high precision motion measurement analysis to thousands of customers worldwide, including Guy's Hospital, EA Sports, MIT and NASA and our software is used in an ever expanding range of applications. Yotta provides cloud-based infrastructure asset management software to central and local government agencies and other infrastructure owners. Yotta has a large number of high profile clients including Highways England and Amey in the UK and VicRoads in Australia amongst others.
Founded in 1984 our group is headquartered in Oxford with offices in Leamington Spa, Gloucester, California, Colorado, Singapore and Auckland. Since 2001, Oxford Metrics (LSE: OMG), has been a quoted company listed on AIM, a market operated by the London Stock Exchange.
For more information about Oxford Metrics, visit www.oxfordmetrics.com
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