Last checked at 23 Oct 2014 07:00
23 October 2014
OMG plc
("OMG" or the "Group")
Trading Update
OMG plc (AIM:OMG) the technology group providing image understanding products for the entertainment, defence, life science and engineering industries provides the following update on trading for the financial year ended 30 September 2014.
During the second half, the Group's portfolio of businesses has traded well. Its three most established businesses Vicon, Yotta and 2d3 were all profitable for the full year. Post period end the Group disposed of its House of Moves subsidiary by way of a management-led buyout.
Group revenue and adjusted profit (excluding House of Moves) are expected to be in line with market forecasts with House of Moves presented as a discontinued item for the full year.
On a divisional basis, our Vicon business is expected to report a similar performance to last year. Yotta continues to benefit from a strengthened recurring revenue stream from its Software as a Service offerings and demonstrated strong growth in profitability. 2d3, our defence division has had a strong year with both revenue and profit significantly up on the previous year. Our consumer division, OMG Life continued to report a loss in the second half at a level similar to the first half.
As previously announced, the Group is exploring opportunities to realise value from IP within the Group and has made good progress in several areas during the second half.
The cash balance for the year remained stable year on year at £7.6m (FY13: £7.8m).
The Group is expected to announce Preliminary Results for the financial year ended 30 September 2014 on Tuesday 9 December 2014.
For further information please contact:
OMG plc | +44 (0) 1865 261800 |
Nick Bolton, CEO | |
David Deacon, CFO | |
FTI Consulting | +44 (0) 20 3727 1000 |
Matt Dixon / Emma Appleton / Charles Palmer / Harry Staight | |
N+1 Singer (NOMAD to OMG) | +44 (0) 20 7496 3000 |
Shaun Dobson / Jen Boorer |
Notes to Editors
About OMG plc
OMG plc (Oxford Metrics Group. LSE: OMG) is a group of technology companies producing image understanding products and services for the entertainment, defence, life science and engineering industries.
The Group's technology is used to capture the movements of actors (for the movie industry), sportsmen (for video games or improving team performance), children with cerebral palsy, rehab patients and animals (for medical, life science and research industries). The technology is also used for the management of infrastructure assets or even for providing image intelligence and situational awareness from drone aircraft. Through this diverse offering the Group has earned its strong international reputation for precision from pixels.
Founded in 1984, the Group is headquartered in Oxford, UK, and has four offices in the US and two in the UK. It has customers in over 50 countries and is a quoted company listed on AIM, a market operated by the London Stock Exchange. The Group trades through four operating subsidiaries: Vicon, the world's largest motion capture and movement analysis company, 2d3, a manufacturer of specialised image understanding software for defence applications, Yotta, a provider of software and services for infrastructure asset management and OMG Life, a new consumer subsidiary.
The Group's global clients spanning the worlds of science, medicine, sport, engineering, gaming, film and broadcast include: major hospitals and research facilities such as Guy's Hospital, Nuffield Orthopaedic Centre and Loughborough University, engineering industry leaders including: Ford Motor Company, BMW, Airbus and Toyota, and in the entertainment sector; Sony, Industrial Light and Magic, Sega, Nintendo, UbiSoft, EA and Square Enix. In infrastructure asset management, clients include Highways Agency, East Sussex, Kent, Lancashire, Transport for London, UK Power Network, Cheshire East and West as well as many others.
For more information about OMG, visit www.omgplc.com.