Oxford Metrics lifts dividend 20% after record sales
Abraham Darwyne
Company News - 3 mins
11:19, 3rd December 2019

Oxford Metrics (OMG) FOLLOW reported on Tuesday that revenues for the year increased 12% to £35.3 million, marking the fourth consecutive year of record sales for the group.

Profits for the year ending 30 September 2019 were £4.7 million, up from £4.6 million in the previous year, while adjusted profits were £5.5 million, a 5.7% increase.

The AIM-listed firm also announced a 20% hike to its full-year dividend to 1.8p.

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.”

He added: “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."

Shares in Oxford Metrics were trading 1.13% higher at 89.5p on Tuesday morning

Oxford Metrics’ motion measurement technology has applications that range from helping Hollywood studios create visual effects to providing elite athletics with precise lower limb load data to aid in rehabilitation, recently teaming up with Red Bull’s Diagnostics and Training Centre.

Oxford Metrics said in a press release that its engineering segment in particular delivered strong performance, after new contracts with the European Space Agency, Northrup Grumman and Nasa’s Jet Propulsion Lab.

Commenting on the performance of the asset management division, CEO Nick Bolton said: “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.”

The motion measurement division performed well, with Nick telling investors: “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.”

Oxford Metrics’ Vicon is world leader in motion measurement and analysis, and according to its website, supplies 50% of the world market.

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