Revenue and profits improve for Oxford Metrics

International software company servicing government, life sciences, entertainment and engineering markets, Oxford Metrics, announced its preliminary results for the financial year to 30 September on Tuesday.

The AIM-traded firm reported group revenue from continuing operations of £29.5m, compared to £25.7m, while its adjusted profit before tax improved to £5.6m from £4.9m.

Net cash balance at period end stood at £8.3m, down from £11.7m.

The board’s proposed final dividend increased by 54% to 1.00p, in line with its stated progressive dividend policy.

Yotta total revenue was up 5.2% to £9.1m, with software and related services revenues growing by 21.7%.

Adjusted profit before tax at Yotta was maintained at £2.0m, which the board said reflected investment to establish an Australian subsidiary in the second half.

Vicon revenue was up 19.4% to £20.4m with improved adjusted profit before tax to £5.9m, from £5.3m.

“I'm pleased to report a successful year for Oxford Metrics, delivering near record numbers from our Vicon business and a high level of recurring revenue at Yotta,” said CEO Nick Bolton.

“The combination of these two strong businesses, provide a solid platform to accelerate our future growth.”

Bolton said the board was announcing a five-year plan to take the business to the next stage of its development.

“This will see us amplify our core strengths, making both Vicon and Yotta stronger and better through targeted investments.

“The goal is for both divisions to broaden and enhance their future profit streams, improve the quality of future earnings and ultimately realise their potential.

“As we enter a new financial year, Oxford Metrics is a simpler business with a clear focus and we look to the future with confidence.”