Oxford Metrics announces record revenue figures
Smart sensor firm Oxford Metrics has hit a record revenue figure of £44.2m this year driven by increased demand.
The Oxfordshire firm's revenues were up over fifty per cent on the previous year while profit before tax stood at £6.5m which was up from 2.6m the previous year.
The company has attributed its growth to increased take up its new system - Valkyrie, a multi-cam motion capture system launched in July 2022.
Imogen Moorhouse, Chief Executive said the company was looking for acquisition targets.
She said: “I am delighted to report my first set of results as CEO of Oxford Metrics. Two years into our five-year strategy, we are reporting record revenue and adjusted PBT performance for FY23. This result builds on from our strongest-ever first half as Vicon executed against orders and continued demand for our smart sensing technology continued, driven by positive uptake of our new system, Valkyrie.
"Our team this year has continued to innovate, manufacturing more advanced camera systems than ever before. At our industry conference Siggraph 2023, we showed the world our new markerless technology. This technological advancement represents a pivotal moment and is expected to drive growth once commercialised in FY24.
"We continue to pursue M&A opportunities to unlock growth and new market opportunities. Post period end, we successfully delivered on our promise of acquisition activity adding smart manufacturing to our market-leading portfolio with Industrial Vision Systems."
Oxford Metrics' board agreed to pay a dividend of 2.75p per share.
