Financials

Interim Results 2024/25

H1 Group Revenue

£20.1m

(H1 FY24: £23.5m)

H1 Group Adjusted EBIT*

(£0.4m)

(H1 FY24: £3.0m)

H1 Group Cash

£39.9m

(H1 FY24 £54.8m)

Results highlights

H1 Group Revenue

£20.1m

Headline Group revenue of £20.1m, down 14% (H1 FY24: 23.5m), in line with management expectations and reflecting a particularly strong comparative year

H1 Group Adjusted EBIT*

(£0.4m)

Group adjusted earnings before interest and tax of (£0.4m) (H1 FY24: £3.0m), reflecting lower revenue in the period and higher operational costs

H1 Group Net Cash

£39.9m

Strong balance sheet with net cash position of £39.9m (H1 FY24: £54.8m), providing substantial resources for further targeted M&A

H1 Operational Cash Generation

£2.8m

Cash generation from operating activities £2.8m (H1FY24: £2.2m), reflecting strong and improved working capital management

CFO comment

The Group is reporting revenue of £20.1m (H1 FY24: 23.5m) and adjusted EBIT* of (£0.4m) (H1 FY24: £3.0m), which is in line with management expectations and reflects a particularly strong comparative year due to our unusually large FY24 order book and the final stage delivery of our largest order in company history. As customer buying returned to normal in H2 FY24 this trend was not expected to continue. Cash generation from operating activities improved to £2.8m (H1FY24: £2.2m), reflecting strong and improved working capital management.

The Group made clear strategic progress in the first half. Vicon Markerless motion capture launched successfully with commercialisation progressing well and modest revenues expected in FY25. We strengthened our smart manufacturing division with the acquisition of Sempre, and appointed a dedicated smart manufacturing managing director, to drive our growth initiatives. We continue to have a strong balance sheet with net cash position of £39.9m (H1 FY24: £54.8m), providing substantial resources for further targeted M&A and we remain debt-free.

*Adjusted (Loss)/Earnings before Interest and Tax, adjusted for share-based payments, amortisation of intangibles arising on acquisition and exceptional costs.

Annual and Interim Results

2024

2023

Annual Results 2023

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Preliminary Results 2023

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Interim Results 2023

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Research

Analyst coverage for Oxford Metrics is provided by:

  • Panmure Liberum - Harvey Robinson
  • Progressive Equity Research - Ian Robertson
  • Canaccord Genuity - Hayley Palmer

To ensure that all shareholders and potential shareholders have access to research commentary, Oxford Metrics has commissioned Progressive Equity Research to publish research on the Company.

Financial calendar 2025

19 Feb

AGM

5 Mar

Proposed dividend payment

31 Mar

End of H1

30 Sep

End of H2

Oxford Metrics