Oxford Metrics ends year in stronger-than-expected position

The AIM-traded firm said it finished the 12 month period in a “robust” cash position of £23m, with no debt.

It said stronger-than-expected outturns were driven by a good performance across both of its divisions, with Vicon experiencing growing demand during the second half, being expected to report a “very profitable” year together with a solid order-book for next financial year.

Yotta, meanwhile, achieved its annualised recurring revenue year-end goal, and was also expected to deliver a full year of profitability.

“As in many industries, Vicon is currently experiencing some short-term supply chain challenges arising from the well-publicised global semiconductor shortage,” the Oxford Metrics board said in its statement.

“The board believes this may impact revenues in the first half of the next financial year but overall, the fundamentals at Vicon remain clear and it is very well placed to capitalise on the substantial market opportunity.

“Yotta is expected to achieve continued growth in annualised recurring revenue and improve profitability further.”

Oxford said the group as a whole remained in a “robust” financial position, which would enable it to pursue its internal investment and merger and acquisition objectives in the year ahead.

The company said it would announce its preliminary results for the year ended 30 September on 2 December.

At 1517 BST, shares in Oxford Metrics were up 6.79% at 118p.