19 October 2021 - 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 2021. Later today, the Group will hold a Capital Markets Day at which it will discuss its five-year growth strategy as well as offer interactions with customers and key management team members.
The Group expects to report revenues of approximately £35.7m and an Adjusted PBT* of approximately £4.6m for the financial year. The Group finished the year with a robust cash position of £23.0m and no debt.
The stronger than expected outturns were driven by a good performance across both divisions. Vicon experienced growing demand during the second half and is expected to report a very profitable year together with a solid order-book for next financial year. Yotta achieved its ARR year-end goal and is also expected to deliver a full year of profitability.
As in many industries, Vicon is currently experiencing some short-term supply chain challenges arising from the well-publicised global semiconductor shortage. The Board believes this may impact revenues in the first half of the next financial year but overall, the fundamentals at Vicon remain clear and it is very well placed to capitalise on the substantial market opportunity. Yotta is expected to achieve continued growth in ARR and improve profitability further. The Group as a whole, remains in a robust financial position which enables the business to pursue its internal investment and M&A objectives in the year ahead.
The Group expects to announce Preliminary Results for the financial year ended 30 September 2021 on Thursday, 2 December 2021.
Capital Markets Day and five-year growth strategy
At a Capital Markets Day to be held later today, the Group will outline its strategic growth ambitions for the next five years. It is the Group’s view that the strength of its current platform, combined with the strong financial footing it has achieved over the past five years of organic and inorganic revenue growth, provide it with routes to capitalise on latent opportunities for growth.
More details will be shared of both organic and M&A-driven activity that the Board believes can deliver its growth ambitions. At the centre of this activity sits ‘Smart Sensing’ – the core of Oxford Metrics’ sales and product development strategy, which enables customers across multiple markets to:
- ‘Sense’ data from a wide variety of sensors, including cameras, across their business and research activities;
- ‘Analyse’ that data to better understand the services they provide, situations they manage or operations they run; and
- ‘Apply’ that data to deliver better outcomes and new innovations
Through pursuit of opportunities aligned to these three areas, Oxford Metrics believes it can meaningfully enhance its product and go-to-market offering in the coming years, significantly increasing its Total Addressable Market (TAM) over the next five years. The event will be recorded and material from the day will be made available on the Oxford Metrics website.
* “Adjusted PBT has been determined after adding back non-cash items such as share based payments, amortisation and impairment of intangibles arising on acquisition and one-off exceptional costs"
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