Oxford Metrics has announced preliminary results for the financial year ended 30 September 2019 with Group Revenue up 11.76% to £35.3m and adjusted profit before tax up 5.7% to £5.5m
Oxford Metrics plc, the international software company servicing government, life sciences, entertainment and engineering markets has announced its preliminary results for the financial year ended 30 September 2019.
- Headline revenue increased 11.7% year-on-year (10.0% at constant currency) to £35.3m (FY18: £31.7m) – driven by a strong performance from Vicon
- Adjusted profit before tax up 5.7% to £5.5m (FY18: 5.2m)
- Strong cash generation from operations (before paying interest and tax) increased by 13.9% to £7.7m (FY18: £6.7m)
- Net cash balance of £13.8m (FY18: £12.2m)
- Record revenues for Vicon for the fourth consecutive year with headline revenue up 16.2% year-on-year (13.9% at constant currency)
- Highest ever Annualised Recurring Revenue (‘ARR’) for Yotta up 8.8% year-on-year to £6.2m as of 30 September 2019 (FY18: £5.7m)
- Good progress against the five-year strategic plan to strengthen and protect Vicon as the profitable market leader (Established Markets revenue grew by 12.3%), and develop cloud-based software products and grow recurring revenues for Yotta (transition to SaaS model now complete).
Commenting on the results Nick Bolton, Chief Executive Officer said: “This has been a year of real strategic progress - a year where the investments we have been making across the business are beginning to bear fruit.
In our motion measurement division, including Vicon, we have invested in sales & marketing bolstered our position as market leader and enter entirely new markets in Elite Sports and LBVR, where we now have a significant opportunity to scale. This puts Vicon in a strong position to capitalise on the trend of motion measurement, which continues to break into every aspect of our daily lives, whether that be through smartphones, fitness trackers or virtual reality. In our asset management division, while we had a slower start to the year, the transition to SaaS is now complete and following investment in our product and our people, momentum is building.
Both businesses have started the year well and operate in growing global markets. Cash generation remains strong, and our pipelines continue to grow, all of which gives the Board confidence in our prospects for the year ahead and beyond.”