Financials

Interim Results 2021/22

H1 Group Revenue

£12.5m

(H1 FY21: £11.2m)

H1 Adjusted PBT*

£0.3m

(H1 FY21: £1.0m)

H1 Group Cash

£19.6m

(H1 FY21: £15.9m)

Highlights Metrics Results

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Results highlights

Group Revenue

£12.5m

Headline Group revenue of £12.5m, up 11.8% (H1 FY21: £11.2m), on a constant currency basis underlying growth was 11.1%

Adjusted PBT*

£0.3m

Adjusted profit before tax £0.3m (H1 FY21: £1.0m) reflecting a planned increase in R&D investment, together with operating costs returning to more normal levels

Cash generation

£3.2m

Continued cash generation with operating cashflow of £3.2m (H1 FY21: £4.5m)

Net Cash

£19.6m

Strong balance sheet with no debt and cash of £19.6m as at 31 March 2022 (H1 FY21: £15.9m). Cash position 22nd June 2022 £67.7m, reflecting Yotta sale proceeds

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CFO comment

The first half was a period of important development for the Group. Firstly, in October 2021, we announced our new five-year plan, through which we aim, by the end of plan, to both grow revenues by 2.5x and deliver adjusted PBT margins of 15%. Secondly, we traded successfully in the first half with headline revenues growing 11.8% whilst still holding an unprecedented level of orders-in-hand of £12.9m (H1FY21: £0.7m) into the second half driven by buoyant demand.

The Group reports an Adjusted PBT* of £0.3m (H1 FY21: £1.0m), largely reflecting an increase in R&D investment announced at the Preliminary Results FY21, together with operating costs returning to more normal levels following the depressed spend during the pandemic. In May 2022, we announced the disposal of our Yotta business at a highly attractive valuation, resulting in a company which is now more focussed and with greater financial firepower.

Oxford Metrics is now more focussed and with greater financial firepower to deliver on its growing set of organic and inorganic opportunities.

David Deacon CFO

Financial metrics

Revenues (£'000)
(continuing operations)

Adjusted PBT* (£'000)
(continuing operations)

Recurring Revenues (£'000)

Cash Generation after Tax (£'000)

Trend
Average

Investor metrics

EPS** (p)

Ordinary Dividends paid (p)

EV/EBITDA Multiple

Annual TSR*** (%)

Trend
Average
CAGR

*Profit/(loss) Before Tax from continuing operations before Group recharges adjusted for share-based payments, amortisation of intangibles arising on acquisition, change in fair value of deferred consideration payable and unwinding of associated discount factor and exceptional costs

**Earnings Per Share (EPS).

***Total Shareholder Return (TSR) Cumulative
Growth Rate (CAGR) of 21% over the period.

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