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Headline Group revenue of £12.5m, up 11.8% (H1 FY21: £11.2m), on a constant currency basis underlying growth was 11.1%
Adjusted profit before tax £0.3m (H1 FY21: £1.0m) reflecting a planned increase in R&D investment, together with operating costs returning to more normal levels
Continued cash generation with operating cashflow of £3.2m (H1 FY21: £4.5m)
Strong balance sheet with no debt and cash of £19.6m as at 31 March 2022 (H1 FY21: £15.9m). Cash position 22nd June 2022 £67.7m, reflecting Yotta sale proceeds
The first half was a period of important development for the Group. Firstly, in October 2021, we announced our new five-year plan, through which we aim, by the end of plan, to both grow revenues by 2.5x and deliver adjusted PBT margins of 15%. Secondly, we traded successfully in the first half with headline revenues growing 11.8% whilst still holding an unprecedented level of orders-in-hand of £12.9m (H1FY21: £0.7m) into the second half driven by buoyant demand.
The Group reports an Adjusted PBT* of £0.3m (H1 FY21: £1.0m), largely reflecting an increase in R&D investment announced at the Preliminary Results FY21, together with operating costs returning to more normal levels following the depressed spend during the pandemic. In May 2022, we announced the disposal of our Yotta business at a highly attractive valuation, resulting in a company which is now more focussed and with greater financial firepower.
Oxford Metrics is now more focussed and with greater financial firepower to deliver on its growing set of organic and inorganic opportunities.
Adjusted PBT* (£'000)
Recurring Revenues (£'000)
Cash Generation after Tax (£'000)
Ordinary Dividends paid (p)
Annual TSR*** (%)
*Profit/(loss) Before Tax from continuing operations before Group recharges adjusted for share-based payments, amortisation of intangibles arising on acquisition, change in fair value of deferred consideration payable and unwinding of associated discount factor and exceptional costs
**Earnings Per Share (EPS).
***Total Shareholder Return (TSR) Cumulative
Growth Rate (CAGR) of 21% over the period.
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Annual and Interim Results
Financial calendar 2022
Annual General Meeting
Proposed dividend payment
End of H1
End of financial year