Financials

CFO Comment

David Deacon discusses the Interim Results for the six months ended 31 March 2019.

Overall the Group has traded well in the first half setting a new record for revenue performance on a continuing operations basis of £16.1m (H1 FY18: £14.3m), up 12.6% on last year at a headline level and 10.4% on a constant currency basis and reporting Adjusted PBT* up 16.1% to £1.7m (H1 FY18: £1.5m). The cash position, having paid a Final and Special Dividend of £3.1m in the first half, finished at £10.9m as at 31 March 2019 (H1 FY18: £9.2m). Cash generated from operations during the first half was £3.3m (H1 FY18: £3.5m); the slight decline accounted for by the intentionally higher inventory position in preparation for Brexit. The Group remains debt-free.

David Deacon
Chief Financial Officer

Interim Results 2018/19 Highlights

  • Headline Group revenue of £16.1m, up 12.6% (H1 FY18: £14.3m)
    • Group revenue up 10.4% on a constant currency basis
  • Adjusted profit before tax up 16.1% to £1.7m (H1 FY18: £1.5m) 
  • Cash generated from operations (before paying interest and tax) £3.3m (H1 FY18: £3.5m) 
  • Cash of £10.9m as at 31 March 2019 (H1 FY18: £9.2m) after the payments of a final and special dividend worth £3.1m
  • Growth initiatives at Yotta yielding results:
    • Annualised Recurring Revenue (‘ARR’) up 10.7% year-on-year
    • 93.2% (FY18: 95.3%) retention of growing SaaS customer base
    • As at 10th June 2019, ARR stood at £6.0m
  • Headline Vicon revenue up 14.4% year-on-year (11.5% at constant currency) against a strong comparator

Financial Metrics

Revenues (£'000)
(continuing operations)

Adjusted PBT* (£'000)
(continuing operations)

Recurring Revenues (£'000)

Cash Generation after Tax (£'000)

  • Trend
  • Average

Investor Metrics

EPS** (p)

Ordinary Dividends paid (p)

EV/EBITDA Multiple

Annual TSR*** (%)

  • Trend
  • Average

*Profit Before Tax before group recharges adjusted for share based payments, amortisation of intangibles arising on acquisition, fair value adjustments to IMeasureU consideration, impairment of Pimloc investment and exceptional costs.

**Earnings Per Share (EPS).

***Total Shareholder Return (TSR) Cumulative
Growth Rate (CAGR) of 20% over the period.

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Annual and Interim Results

2019

Interim Results 2019
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Interim Results
Infographic 2019
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2018

Annual Results 2018
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Preliminary Results
Infographic 2018
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Interim Results 2018
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Interim Results
Infographic 2018
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2017

Annual Results 2017
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Preliminary Results
Infographic 2017
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Interim Results 2017
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Interim Results
Infographic 2017
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2016

Annual Results 2016
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Preliminary Results
Infographic 2016
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Interim Results 2016
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Financial Calendar 2019

21 Feb

Annual General Meeting

31 Mar

End of half year

11 Jun

Interim Results

30 Sep

End of financial year

AIM Rule 26

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Advisors

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