6th June 2017 - Oxford Metrics (OMG plc LSE: OMG), the international software company servicing government, life sciences, entertainment and engineering markets, announces interim results for the six months ended 31 March 2017.

Financial Key Points

• Group Revenue of £12.9m, up 17% (H1 FY16: £11.0m) – record first half performance
• Adjusted PBT of £1.6m (H1 FY16: £1.8m) in line with expectations following focused investments
• Group cash stands at £11.1m, up from £5.8m a year earlier following strong cash flow generation and receipt of remaining 2d3 consideration
• Yotta software revenue up 20% year-on-year, with 98% retention of growing SaaS customer base
• Vicon revenue up 15% year-on-year following a strong Americas performance
• Good progress towards strategic goal of doubling profits and tripling recurring revenues by 2021
  • Annual value of recurring revenues increased 13% to £4.3m (H1 FY16: £3.8m)

Operational Key Points

• Announced five year strategic growth plan in December – targeted investments made in first half
• Strategy for Yotta: expand geographically and develop cloud-based software products
  • Launch of Alloy, a cloud-based asset management platform, was received very positively – the SaaS-based software broadens Yotta’s product capability and its flexibility will underpin Yotta’s international expansion
  • Added staff in sales, partner management and delivery, to manage and develop partner network across Europe and build upon our existing presence in Australia
• Strategy for Vicon: strengthen and protect a profitable market leader
  • Launched Shōgun, new software which meets the growing demands of game, film and Virtual Reality production and maintains leadership in the Entertainment market
  • Vicon Vero exceeded expectations in first full sales period shipping over 1100 cameras, up 57% year-on-year on the previous mid-market product, Vicon Bonita
  • Vicon technology used in recent film A Monster Calls
• Initiated process to dispose of Yotta Surveying activities - now reported as asset held for sale
  • Negotiations ongoing, expect to announce the disposal in second half

Commenting on the results Nick Bolton, Chief Executive Officer said:

“This has been a very encouraging start to the year. When we announced our new five-year strategy last year we signalled a series of targeted investments to drive long term growth. Since then we have accelerated investment in our development teams and expanded our international sales channels.

Even at these early stages, it is encouraging to see the impact showing through as we launched Yotta’s new software platform, Alloy. We are tracking well against plan recording encouraging recurring revenue growth while maintaining strong cash flow generation. The sales pipeline, which includes the first commercial sales of Alloy is also strong - all of which underpins our confidence in our full year targets as well as our long term growth prospects.”

For the full Interim Results 2017 click here.

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