AGM Statement

RNS Number : 7868A

OMG PLC

24 February 2014

 



24 February 2014

OMG plc

("OMG" or the "Group")

Annual General Meeting Statement

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 will hold its Annual General Meeting ("AGM") at 2pm today.

At the AGM Anthony Simonds-Gooding, Chairman of OMG, will make the following statement:

"The Board is pleased to announce that OMG has made a good start to the year.  Group revenues for H1 2014 are expected to be ahead of those reported in H1 2013.  We expect Adjusted Profit for the Group, excluding OMG Life where investment has continued, to be similar to H1 2013.

On a divisional basis, Vicon has delivered a solid start to the year, with its motion capture used in Hollywood blockbuster, Gravity. In Yotta, the Group's Horizons software continues to gain traction, best demonstrated by the important Highways Agency contract secured by Yotta in the first half.   Persistent heavy rain has limited Yotta's overall surveying activity in the UK, but the recent Mayrise acquisition continues to bring real benefits to Yotta, performing ahead of our initial expectations.  In 2d3, revenue is developing well with a strengthened pipeline for the second half.  As for our consumer arm, OMG Life, we are beginning to see Autographer gain traction with multiple audiences and the investments we are making here continue to drive our progress.

As is typical of the Group, we continue to be second half weighted in terms of revenue.  Based on our pipeline as we enter the second half, the Board remains confident in achieving current market expectations for the full year."

The Company will provide further information on trading when it announces its interim results for the six months ended 31 March 2014.

For further information please contact:

OMG plc	[phone]
Nick Bolton, CEO
David Deacon, CFO
FTI Consulting	[phone]
Matt Dixon / Emma Appleton / Charles Palmer / Jessica Liebmann
N+1 Singer (NOMAD to OMG)	[phone]
Shaun Dobson / Jen Boorer

 

END

 

 

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