OMG PLC Trading Update (8801M)
October 19 2016 - 1:00AM
UK Regulatory
TIDMOMG
RNS Number : 8801M
OMG PLC
19 October 2016
19 October 2016
OMG plc
("OMG", "Oxford Metrics", or the "Group")
Trading Update
Oxford Metrics (OMG plc LSE: OMG), the technology group
providing products and services for the life sciences,
entertainment, engineering and government markets, provides the
following update on trading for the financial year ended 30
September 2016.
The Group enjoyed a successful close to the financial year and
expects to report revenues in excess of GBP29.0m (FY15: GBP25.8m),
ahead of market expectations, and Adjusted PBT in line with market
expectations, having excluded the write-off of GBP1.5m capitalised
R&D treated as an exceptional cost relating to the decision to
discontinue OMG Life described below.
Our Vicon business, with its recently refreshed products, has
performed very well this year in all geographies. Furthermore,
Vicon has also benefitted from the recent increase in the strength
of the US dollar vs. GBP, with an average of 50% of Vicon revenues
generated by Vicon's US operation.
Yotta has continued to benefit from a strengthened recurring
software revenue stream in the UK and in international markets.
Notable wins secured in the UK at Plymouth, Gateshead and London
Borough of Havering, in the Netherlands at SAAone and with the
recently announced extended relationship with Amey Plc to deploy
Horizons at customer sites in UK, Australia, New Zealand and
Spain.
Following extensive analysis during the financial year, the
Board concluded it should discontinue OMG Life in order to focus
the Group's resources on Vicon and Yotta. OMG Life had been focused
on deriving value from the Company's portfolio of Intellectual
Property (IP) through the deployment of third-party consumer
products.
At the Group's Interim Results in May, the Board stated its
intention to spin out certain IP, relating to Machine
Learning-based imagery classification. This process has now
completed, with the IP transferred to a new, independently funded
vehicle, called Pimloc, in exchange for a 25% stake in the new
company.
The cash balance for the year closed at GBP8.2m (FY15: GBP11.7m)
after the payment of special and final dividends totalling GBP5.3m
during FY16. The Group expects to announce Preliminary Results for
the financial year ended 30 September 2016 on Tuesday, 6 December
2016.
ENDS
For further information, please contact:
OMG plc +44 (0) 1865 261800
Nick Bolton, CEO
David Deacon, CFO
FTI Consulting +44 (0) 20 3727 1000
Matt Dixon / Emma Appleton / Harry Staight
N+1 Singer (NOMAD to OMG) +44 (0) 20 7496 3000
Shaun Dobson / Jen Boorer
Notes to Editors
About Oxford Metrics
Oxford Metrics (OMG plc. LSE: OMG) produces technology and
software for the life sciences, entertainment, engineering and
government infrastructure markets. It does this through two
subsidiaries, Vicon and Yotta.
The Group's technology is used globally to capture the movements
of actors (for the movie industry), sportsmen and women (for video
games or improving team performance), and children with cerebral
palsy, rehab patients and animals (for medical, life science and
research industries). The technology is also used for the
management of highways and other forms of distributed
infrastructure assets, such as lighting systems and other street
furniture.
Founded in 1984, the Group is headquartered in Oxford, UK, and
has two offices in the US and four in the UK. It has customers in
over 65 countries and is a quoted company listed on AIM, a market
operated by the London Stock Exchange.
The Group's global clients spanning the worlds of science,
medicine, sport, engineering, gaming, film and broadcast include:
major hospitals and research facilities such as Guy's Hospital,
Nuffield Orthopedic Centre, Headley Court and Loughborough
University, engineering industry leaders including: Ford Motor
Company, BMW, Toyota and European Space Agency and in the
entertainment sector; The Imaginarium, Sony, Industrial Light and
Magic, Sega, Nintendo, UbiSoft, EA and Square Enix. In
infrastructure asset management, clients include Highways England,
Amey, Fulton Hogan, Northumberland, Norfolk, Lancashire, Hampshire,
Cheshire East and West, Kent as well as many others.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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