11th Jun 2019 12:04
(Alliance News) - Oxford Metrics PLC on Tuesday said profit declined marginally in its most recent half due to rising sales and marketing costs and higher administrative expenses.
Shares in Oxford Metrics were down 7.2% at 90.49 pence in London.
The analytics software company, which focuses on the government, engineering, life sciences, and entertainment markets, said profit fell very slightly in the six months to March 31 to GBP1.16 million from GBP1.18 million.
Revenue was up 13% to GBP16.1 million from GBP14.3 million, led by 14% revenue growth from its Vicon unit. However sales, support and marketing costs increased 23% to GBP4.3 million from GBP3.5 million.
In addition, administrative expenses reached GBP4.2 million versus GBP3.7 million and research and development costs rose to GBP2.1 million from GBP1.8 million.
Oxford Metrics' adjusted pretax profit, which is adjusted for share-based payments, amortisation of intangibles from acquisitions, fair value changes for deferred consideration, and other factors, increased to GBP1.7 million from GBP1.5 million.
"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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