Last checked at 19 Oct 2017 07:00
19 October 2017
Oxford Metrics plc
("Oxford Metrics" or the "Company")
Trading Update
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 2017.
The Group enjoyed a successful close to the financial year and expects to report both revenues and adjusted PBT slightly ahead of market expectations.
The Board is pleased to report the Group has made good progress during this first year of the Group's five-year growth plan and is on track to achieve the goals we stated in December 2016 to double profits and triple recurring revenue by 2021.
In Yotta, our connected asset management division, international expansion and broadening of product capability has been the key focus. Alloy, a cloud-based asset management platform was launched in February 2017 and the first modules were released in August 2017. The product, designed to take advantage of the global need to manage infrastructure assets, has been well received by customers and has already recorded its first revenues in both UK and abroad.
Vicon, our motion measurement division, strengthened its product portfolio during the period through the acquisition of IMeasureU. This transaction expands Vicon's addressable market and provides a platform to create a meaningful SaaS-based recurring revenue stream for this part of the business. Vicon Vero, our compact measurement system sold particularly well during the financial year and remains the Group's fastest-ever selling system.
The cash balance for the year closed at £9.8m (FY16: £8.3m).
The Group expects to announce Preliminary Results for the financial year ended 30 September 2017 on Wednesday, 6 December 2017.
For further information please contact:
Oxford Metrics plc | +44 (0)1865 261860 |
Nick Bolton, CEO | |
David Deacon, CFO | |
FTI Consulting | +44 (0)20 3727 1000 |
Matt Dixon / Emma Hall / Harry Staight | |
N+1 Singer (NOMAD to Oxford Metrics) | +44 (0)20 7496 3000 |
Shaun Dobson / James White |
About Oxford Metrics
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 subsidiaries: Vicon and 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