Oxford Metrics aiming to triple revenue over next three years

17th Oct 2018 08:29

(Sharecast News) - Oxford Metrics' shares rose on Wednesday after the company reiterated targets to double profits and triple revenue by 2021 as trading remains on track.The international software company said the year to 30 September had been "successful" after a "strong trading performance" at subsidiary Vicon and its other business, Yotta, building traction in its marketplace following a period of investment.Consequently, the AIM-traded company expects to report group revenues and adjusted profit before tax in line with current market expectations.The cash balance at the year-end stood at £12.2m, up from £9.8m at the same point last year, after the payment of a final dividend totaling £1.5m in March.Vicon is a world leader in high precision motion measurement analysis for a variety of different companies and markets, including Guy's Hospital, EA Sports, MIT and NASA.Meanwhile, Yotta provides cloud-based infrastructure asset management software to central and local government agencies and other infrastructure owners and has a large number of high profile clients including Highways England and Amey in the UK and VicRoads in Australia.Oxford Metrics' shares were up 5.38% at 68.50p at 0836 BST.