Financials

CFO Comment

David Deacon discusses the Preliminary Results for the financial year ended 30 September 2019.

We are pleased to report another year of clear growth for the business. Revenue from continuing operations grew 11.7% to £35.3m (FY18: £31.7m). IFRS15 has now been fully implemented but in this year of transition it is worth noting that had revenues been recognised under IAS18, reported revenues would have been £0.3m higher. Adjusted PBT* from continuing operations was up 5.7% at £5.5m (FY18: £5.2m). The company reports another year of strong cash generation, finishing with £13.8m at year-end (FY18: £12.2m) having paid a special dividend of £1.2m (2018: Nil) and the final 2018 dividend of £1.9m (2018: £1.5m) during the year. The Group remains debt-free.

David Deacon
Chief Financial Officer

Preliminary Results 2018/19 Highlights

  • Headline Group revenue increased 11.7% year-on-year (10.0% at constant currency) to £35.3m (FY18: £31.7m) – driven by a strong performance from Vicon 
  • Adjusted profit before tax up 5.7% to £5.5m (FY18: 5.2m)
  • IFRS15 adverse impact on Revenue and Adjusted PBT £0.3m
  • Strong cash generation from operations (before paying interest and tax) increased by 13.9% to £7.7m (FY18: £6.7m) 
  • Net cash balance of £13.8m (FY18: £12.2m) 
  • Recommended Ordinary Dividend increased by 20% to 1.80p per share (FY18: 1.50p per share)
  • Our motion measurement division, Vicon recorded record revenues for the fourth consecutive year with headline revenue up 16.2% year-on-year (13.9% at constant currency)
  • Our Asset Management Division, Yotta reported its highest ever Annualised Recurring Revenue (‘ARR’) up 8.8% year-on-year to £6.2m as of 30 September 2019 (FY18: £5.7m)

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
  • CAGR

*Adjusted PBT* for continuing operations has been determined after adding back non-cash moving items such as share-based payments, amortisation of intangibles arising on acquisition, fair value adjustments to IMeasureU purchase consideration, impairment of Pimloc investment and exceptional costs.

**Earnings Per Share (EPS).

***Total Shareholder Return (TSR) Cumulative
Growth Rate (CAGR) of 23% over the period.

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Annual and Interim Results

2019

Annual Results 2019
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Preliminary Results 
Infographic 2019
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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

31 Mar

End of half year

11 Jun

Interim Results

30 Sep

End of financial year

3 Dec

Preliminary Results 

AIM Rule 26

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