OMG plc, Oxford Metrics Group (LSE: OMG), ('OMG' or 'the Group') the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, is pleased to provide the following update in respect of trading for the six months ended 31 March 2010.
The Group expects to report record first half revenue of approximately £14.4m. Sales of higher margin products in the Group’s Vicon business, particularly in the United States, recovered more quickly than previously expected towards the end of the first half. As a result, the Group now expects to report a profit before tax (“PBT”) performance for the half year that is ahead of the market’s current PBT expectations for the full year. Cash at bank as at 31st March 2010 stood at £4.1m.
Whilst general economic conditions remain mixed, OMG enters the second half of the financial year in robust financial health. As in previous years, the Group remains dependent on the successful closure of deals during the second half but, at this current time, the Board believes it reasonable to expect a full year PBT performance that is ahead of current market expectations.
OMG will report interim results for the six months ended 31 March 2010 on Wednesday, 12 May 2010.
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