OMG hikes divi after good year

Motion capture specialist OMG hailed a 'straightforwardly good 12 months' as revenues and profits came in above market expectations.

Group revenue was up by 11.9% to £29.5m, while adjusted profit before tax almost tripled to £3.0m.

The company proposed increasing its dividend by 17% to 0.35p after saying its 2d3 defence business delivered a maiden adjusted profit of £0.8m

Its Vicon division installed more systems and cameras than ever before with profits rising from £3.8m to £5.6m.

It had some high profile successes with Vicon's technology being used in the film Avengers Assemble as well as computer game "Call of Duty: Black Ops II".

Yotta, the firm's highways, software and services business, reported a loss of £0.3m.

New consumer division, OMG Life, opened a new avenue for growth, the firm said, but investment costs meant it made a £1.2m loss over the year.

Chairman Rchard Soley said the firm entered its new financial year with cautious optimism, excited, in particular, by the prospects for OMG Life and 2d3.

"We believe our strategy of market-focused diversification will enable the group to deliver on the board's expectations for the year ahead," he said.

MM