3rd Dec 2019 10:33
(Alliance News) - Oxford Metrics PLC on Tuesday raised its annual dividend, as profit and revenue grew, driven by a strong performance from the group's Vicon unit.
For the financial year to the end of September, pretax profit rose by 1.9% to GBP4.7 million from GBP4.6 million the year before. This was due to a reduction in share-based payments and the amortisation of intangibles rising on acquisition, and was despite one-off redundancy costs.
On an adjusted basis, pretax profit rose by 5.7% to GBP5.5 million from GBP5.2 million.
Meanwhile, the software firm reported double-digit revenue growth, rising by 12% to GBP35.3 million from GBP31.7 million. The strong performance was attributed to Oxford's motion measurement division division, which reported a 16% increase to a record GBP28.3 million.
This more than offset a 4.1% decrease in the Yotta segment to GBP7.0 million.
Oxford Metrics declared a total dividend of 1.80 pence per share, up 20% from 1.50p the year before.
Looking ahead, so far into its current financial year both businesses have started well, with Vicon's sales pipeline for the first quarter to date 9.0% higher from the sale period the year before.
"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," said Chief Executive Officer Nick Bolton.
"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," Bolton added.
Shares in Oxford Metrics - which is headquartered in Oxford - were up 1.5% at 89.78 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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