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23.06.09 / Announcement
Interim Results statement for the six months ended 31 March 2009
OMG plc, (LSE: OMG) ("OMG" or the "Group"), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, announces interim results for the six months ended 31 March 2009.
Financial Highlights:
Revenue up 7.0% to £13.6m (H108: £12.7m)
Adjusted profit before tax, pre-restructuring costs, of £1.1m (H108: £1.2m)
Reported Profit before Tax of £0.9m (H108: £1.2m)
Cash position remains healthy at £2.1m (H108: £2.9m) following Vicon and Yotta restructuring and further investment in the future growth of the business
Group remains debt-free
Operational Key Points:
Mixed trading but improved operational efficiency and encouraging business pipelines
Vicon showing a varied performance
North American operations impacted by economic weakness
Non-American revenues up 9.0%, with particular growth evident in China
Yotta impacted slightly by pricing pressure
New contracts include Cheshire County Council and Newcastle
Further progress from 2d3
Continued expansion of our USA operations
Revenue mix continues to improve, with US revenue overtaking UK revenue for the first time
Commenting on the results Nick Bolton, Chief Executive Officer said:
"I am pleased that against the challenging economic backdrop we have continued to win new work across our business: both from new and existing clients and, particularly in the case of China, in exciting geographies for us."
"At the same time, I and my Board colleagues are fully aware of the challenges that remain. Our focus continues to be taking the sensible, targeted actions necessary within our business to ensure that the fundamental strengths of OMG continue to shine through: our people, our technologies and our execution. In tough times, these foundations become even more significant in underpinning our prospects for future profitable growth."
For further information please contact:
OMG plc
+44 1865 261800
Nick Bolton, Chief Executive
David Deacon, Finance Director
Financial Dynamics
+44 20 7831 3113
Juliet Clarke / Matt Dixon / Emma Appleton
Evolution Securities (NOMAD to OMG)
+44 20 7071 4300
Jeremy Ellis
About OMG
OMG plc (Oxford Metrics Group. LSE: OMG) is a group of technology companies producing image understanding products and services for the entertainment, defence, life science and engineering industries. Be it for capturing the movements of actors (for the movie industry), sportsmen (for video games or improving team performance), children with Cerebral Palsy, rehab patients and animals (for medical, life science and research industries) or virtual reality displays (for engineering and development), the Group has the world leading market position and a strong international reputation for precision instruments.
Founded in 1984, the Group’s headquarters are in Oxford, UK, and it has offices in California and Colorado, USA. It has customers in over 50 countries and is a quoted company listed on AIM, a market operated by the London Stock Exchange. The Group trades through three operating subsidiaries – Vicon, the world’s biggest motion capture and movement analysis company, 2d3, a manufacturer of specialised image understanding software for entertainment and defence applications and Yotta, our 3D mapping business, which collects and analyses highway data and street level imaging and which, following the acquisition of Mobile Video Services, Inc. in April 2008 is a leading US provider of data collection services for the assessment of property taxation.
Oxford Metrics’ global clients in science, medicine, sport, engineering, gaming, film, broadcast and 3D mapping include major hospitals and research facilities such as Guy's Hospital, Nuffield Orthopaedic Centre and Loughborough University, engineering industry leaders including Ford Motor Company, BMW, Airbus and Toyota, and in the entertainment sector, Sony, Industrial Light and Magic, The Moving Picture Company (MPC), Sega, Nintendo, UbiSoft, EA, Square Enix and in 3D mapping and highway surveys: Mouchel Parkman, Atkins, and Oxfordshire, Cumbria, Derbyshire and Pembrokeshire County Councils as well as many others.
For more information about OMG and its subsidiaries, visit www.omg3d.com, www.vicon.com, www.2d3.com or www.yotta.tv
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