Oxford Metrics PLC on Wednesday predicted that financial 2023 revenue and profit will top forecasts and surge annually, noting ‘ongoing demand’ from both new and existing customers.

Shares in the Oxford, England-based software provider were up 0.7% to 82.56 pence each in London on Wednesday afternoon.

For the year ended September 30, Oxford Metrics expects to report revenue of £44.0 million and an adjusted pretax profit of £6.3 million. In financial 2022, it reported revenue of £28.8 million and adjusted pretax profit of £2.6 million.

The company noted that both are ahead of current market expectations for the financial year. Oxford Metrics’ compiled market consensus includes revenue of £39.0 million and adjusted pretax profit of £5.8 million

‘Following the group’s strongest-ever first half performance, momentum continued into the second half driven by a particularly strong contribution from the Engineering and Life Sciences segments,’ the company said.

‘Vicon continues to see ongoing demand for smart sensing into yet more applications from new and existing customers alike and the new Vicon Valkyrie system launched late last year continues to stimulate demand.’

Looking ahead, Oxford Metrics said it is in a ‘strong’ position to pursue organic growth, as well as merger and acquisition objectives in the year ahead.

Oxford Metrics also has started the new financial year with a ‘solid’ order book.

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