StockMarketWire.com - Software company Oxford Metrics has reported headline group revenue declined 6.5% to £15m in in the first half of 2020, as it was unable to fulfil £1.1m of Vicon orders during the last two weeks of the first half due to global operational shutdowns.

In its interim results for the six months to 31 March 2020, the company confirmed that orders have now been largely shipped to customers and will be recognised in the second half of the year but that the delay in shipments had a £0.9m impact on profitability.

The company reported an adjusted pre-tax profit of £0.3m, down from £1.7m in the same period a year earlier.

Despite this, chief executive Nick Bolton called it 'a strong start to FY20'and said that the company had recorded its second-highest ever first-half revenue performance.

Oxford Metrics announced notable wins during the period, with game companies Konami in Japan together with Tencent and miHoYo in China.

Chief executive Nick Bolton said: 'Our business, like any other, is not immune to the effects of COVID-19 and we continue to monitor the evolving situation closely.

'The group's fundamentals remain strong and our robust balance sheet will help Oxford Metrics to navigate the current challenges, whilst continuing to drive innovation.'


At 9:53am: [LON:OMG] Oxford Metrics Plc share price was -7.5p at 90.5p



Story provided by StockMarketWire.com