OMG pats itself on the back

2nd Dec 2010 14:17

The share price of motion capture specialist OMG moved to a 52-week high after its "best ever year".Both sales and profits were ahead of expectations. Revenue for the year ended 30 September jumped to £31.17m from £26.19m the year before, while profit before tax surged to £0.95m from £0.61m. Adjusted profit before tax rose to £3.2m from £2.1m.Net cash at the end of the reporting period improved to £6.2m from £2.8m."There's been good growth in our engineering and life sciences markets, and a more gradual improvement in entertainment, enabling our Vicon business - and especially our House of Moves division - to turn in excellent results," said non-executive chairman Antony Simonds-Gooding."Meanwhile, Yotta USA has struggled, because of the continuing problems in the US property market. In recognition of these difficulties, the group has provided in full for the £1.9m carrying value of Goodwill and Intangibles in relation to the acquisition of Yotta USA (MVS) following an impairment review," Simonds-Gooding added.The company did not make any acquisitions during the year but remains on the look-out for useful additions to the group.The full year dividend has been doubled to 3p.