19 October 2017 - Oxford Metrics plc (LSE: OMG), the international software company servicing government, life sciences, entertainment and engineering markets, provides the following update on trading for the financial year ended 30 September 2017.

The Group enjoyed a successful close to the financial year and expects to report both revenues and adjusted PBT slightly ahead of market expectations.

The Board is pleased to report the Group has made good progress during this first year of the Group's five-year growth plan and is on track to achieve the goals we stated in December 2016 to double profits and triple recurring revenue by 2021.

In Yotta, our connected asset management division, international expansion and broadening of product capability has been the key focus. Alloy, a cloud-based asset management platform was launched in February 2017 and the first modules were released in August 2017. The product, designed to take advantage of the global need to manage infrastructure assets, has been well received by customers and has already recorded its first revenues in both UK and abroad.

Vicon, our motion measurement division, strengthened its product portfolio during the period through the acquisition of IMeasureU. This transaction expands Vicon’s addressable market and provides a platform to create a meaningful SaaS-based recurring revenue stream for this part of the business. Vicon Vero, our compact measurement system sold particularly well during the financial year and remains the Group’s fastest-ever selling system.

The cash balance for the year closed at £9.8m (FY16: £8.3m).

The Group expects to announce Preliminary Results for the financial year ended 30 September 2017 on Wednesday, 6 December 2017.

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