3 November 2020 - 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 2020.
The Group expects to report revenues of £30.3m and an Adjusted PBT* of £2.5m for the financial year. The Group finished the year with a strong cash position of £14.9m and no debt.
Divisionally, Vicon delivered another profitable year and whilst the timing of orders was impacted by COVID-19, as previously reported, it achieved a slightly better performance in the second half than the first half. Market activity for Yotta was muted for a time during the lockdown period but in our final quarter enjoyed a period of improved contract momentum as a result of COVID-19 accelerating the need for Local Authorities to manage their assets remotely. Consequently, ARR growth achieved this year has allowed Yotta to deliver a profitable second half.
The Group’s fundamentals remain strong, supported by an encouraging pipeline of opportunities across both divisions and a strong balance sheet which together underpin confidence that the Group will continue to successfully navigate current challenges arising from the pandemic.
The Group expects to announce Preliminary Results for the financial year ended 30 September 2020 on Thursday, 3 December 2020.
* Adjusted PBT* has been determined after adding back non-cash items such as share based payments, amortisation of intangibles arising on acquisition and one-off exceptional costs”
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