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Oxford Metrics announces interim results to 31 March 2019

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Oxford Metrics plc (LSE: OMG), the international software company with HQ in Oxford that has worked on blockbusters Ready Player One and Star Wars: The Last Jedi has announced its interim results for the six months ended 31 March 2019.

Group revenue was up 12.6% to £16.1m compared to the same period a year ago, and adjusted profit before tax was also up 16.1% to £1.7m for the same period.

Commenting on the results Nick Bolton, Chief Executive Officer said: “We have made a positive start to the year, delivering record revenue and double-digit revenue and earnings growth. Driving that performance was Vicon, which delivered revenue growth of 14%, securing deals with NASA’s Jet Propulsion Lab and Square Enix to consolidate our leadership position in the Engineering and Entertainment markets.

This year we have also seen the Location-based Virtual Reality market really beginning to take off. The scale of this market is significant, our partners are now launching new locations across multiple geographies and we signed an exciting new partnership with Sandbox VR.

The focused investments we are making this year will help us to capture these new opportunities and launch new products to drive future growth. As we move into the second half, our pipeline of sales for both Yotta and Vicon is strong, underpinning our confidence in delivering in-line with market expectations for the full year.”

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