Interim Results 2020/21 highlights
- Headline Group revenue of £15.3m, up 2.1% (H1 FY20: £15.0m), on a constant currency basis underlying growth was 3.8%
- The Group reported an adjusted profit before tax £1.3m (H1 FY20: £0.3m)
- Adjusted earnings per share 1.08p (H1 FY20: 0.17p)
- Continued cash generation with operating cashflow of £4.2m (H1 FY20: £1.0m)
- Strong balance sheet with no debt and cash of £15.9m as at 31 March 2021 (H1 FY20: £10.8m). Cash position at 25 May 2021 £19.1m
- Demand for Vicon solutions in the USA returned in the second quarter with solid performance in other geographies
- Yotta software revenues up 11.1% to £4.1m (H1 FY20: £3.7m), as we continue to see customer interest to digitally transform the management of public assets
David Deacon discusses the Interim Results for the six months ended 31 March 2021
Despite the on-going restrictions associated with the pandemic continuing during the half, the Group has traded well, reporting total revenues of £15.3m (H1 FY20: £15.0m), up 2.1% at a headline level on last year's first half and up 3.8% on a constant currency basis.
The Group also reports an improvement in Adjusted PBT* to £1.3m (H1 FY20: £0.3m) reflecting the additional gross margin from higher revenues and a number of pandemic-related cost savings.
In line with our "amplify the core" strategic plan to increase the visibility of revenues and profits, the Group increased Annual Recurring Revenues (‘ARR’) by 4.7% year-on-year to £7.1m (H1 FY20: £6.8m).
The cash position, having paid a final dividend of £2.3m in the first half, finished at £15.9m as at 31 March 2021 (H1 FY20: £10.8m). Cash generated from operations during the first half was £4.2m (H1 FY20: £1.0m). The Group remains debt-free.
David Deacon - Chief Financial Officer
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, Pimloc and exceptional costs.
**Earnings Per Share (EPS).
***Total Shareholder Return (TSR) Cumulative
Growth Rate (CAGR) of 26% over the period.
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Annual and Interim Results
- Annual Results 2019
- Download Results
- Preliminary Results 2019
- Watch Video
- Interim Results 2019
- Watch Video
Financial calendar 2021
End of financial year