Interim Results

RNS Number : 7487L

OMG PLC

12 May 2010

 



Wednesday, 12 May 2010

OMG plc

Interim Results statement for the six months ended 31 March 2010

OMG plc, (LSE: OMG) ("OMG" or the "Group"), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, announces interim results for the six months ended 31 March 2010.

Financial Highlights:

·              Record half year for Group, ahead of original market expectations

o   Revenue up 5.9% to £14.4m (H109: £13.6m)

o   At constant currency revenue up 9.2%, as a result of the Group's broad geographic reach

·              Adjusted Profit before Tax (Note 3) of £1.4m (H109: £1.2m)

·              Strengthened cash position of £4.1m as at 31 March 2010 (March 2009: £2.1m/September 2009: £2.8m)

·              Operational cash of £2.3m generated in first half (H109: Nil)

·              Group remains debt free

Operational Key Points:

·      Vicon showed return to excellent progress

o  Reported revenue growth of 9.2% to £10.6m (H109: £9.7m)

o  At constant currency revenue increased by 12.9%

o  Vicon USA resumed growth, with revenue up 21.7% at constant currency

o  Operating profit before allocation of Group overheads increased to £2.9m (H109: £1.3m)

o  Film and games market share maintained, with Vicon used in Disney's Christmas Carol, Clash of the Titans and most recently the chart topping video game, Heavy Rain

o  Collaboration with Fujikura, the world's premier golf shaft manufacturer

·      Yotta saw strong H1

o  Signed its largest ever surveying contract with the Welsh Assembly Government, worth  £4-5m over the next 4 years

o  Yotta UK reduced its operating loss before allocation of Group overheads to £0.2m (H109: Loss £0.4m) despite harshest winter in 30 years

·      2d3, provider of defence software and services, progressed well

o  Revenue up by 55% to £0.7m (H109: £0.4m)

o  Achieved breakeven, before allocation of Group overheads for the first time (H109: Loss £0.3m)

Commenting on the results Nick Bolton, Group CEO, said:

"This is a record set of results - not just at the headline level but in the detail too. During this first half, despite the recent challenging economic environment, the Group signed its largest deal ever, drove 2d3 to breakeven, saw Vicon US return to its position of power and delivered £2.3m of operational cash generation.  Our diversified business has served us well and we are particularly pleased with the significant improvement seen in Vicon's US market.  With renewed stability and confidence returning to some of our markets, we are cautiously optimistic that we will be able to continue to grow strongly."

For further information please contact:

OMG plc	[phone]
Nick Bolton, Group CEO David Deacon, Group CFO
Financial Dynamics	[phone]
Juliet Clarke / Matt Dixon / Emma Appleton
Evolution Securities (NOMAD to OMG)	[phone]
Jeremy Ellis

About OMG

OMG plc (Oxford Metrics Group. LSE: OMG) is a group of technology companies producing image understanding products and services for the entertainment, defence, life science and engineering industries.

Be it for capturing the movements of actors (for the movie industry), sportsmen (for video games or improving team performance), or children with Cerebral Palsy, rehab patients and animals (for medical, life science and research industries); or recording the condition of highways and the assets that surround them or assessing the value of properties; or even providing image intelligence and situational awareness from drone aircraft. Through this diversified offering the Group has earned its strong international reputation for precision from pixels.

Founded in 1984, the Group is headquartered in Oxford, UK, and has four offices in the US and two in the UK. It has customers in over 50 countries and is a quoted company listed on AIM, a market operated by the London Stock Exchange. The Group trades through three operating subsidiaries:  Vicon, the world's largest motion capture and movement analysis company, 2d3, a manufacturer of specialised image understanding software for defence applications, and Yotta, our highways and property surveying business.

The Group's global clients spanning the worlds of science, medicine, sport, engineering, gaming, film and broadcast include: major hospitals and research facilities such as Guy's Hospital, Nuffield Orthopaedic Centre and Loughborough University, engineering industry leaders including: Ford Motor Company, BMW, Airbus and Toyota, and in the entertainment sector; Sony, Industrial Light and Magic, The Moving Picture Company (MPC), Sega, Nintendo, UbiSoft, EA and Square Enix. In surveying clients include:Miami-Dade county, Atkins, and Oxfordshire, Cumbria, Derbyshire and Pembrokeshire County Councils as well as many others.

For more information about OMG and its subsidiaries, visit www.omgplc.com, www.vicon.com, www.2d3.com, www.yottadcl.co.uk or www.yottamvs.com.

Chairman and Chief Executive's Statement

Despite continuing global economic challenges, we are pleased to report a record half for the Group.  We have faced the challenges of difficult market conditions head on and our diversified portfolio has served us well. In the USA, we have seen the market for Vicon recover to a significant extent, although not yet to a level to restore revenue to pre-recessionary levels. Conversely, the market for Yotta USA remained very subdued due principally to economic conditions and adverse weather. Elsewhere, we are pleased to note that the rest of the world continued to show growth and the UK remained, on balance, fairly flat.

Despite these challenges, OMG has progressed well as it continued to be vigilant on costs, focussed on execution and launched new products and services to drive growth in future years.  These record results demonstrate the Group's resilience and determination during testing times and its focus on future growth.

Financial Summary

For the first half, the Group achieved revenue of £14.4m, which represents a growth of 5.9% compared to the previous year (H109: £13.6m). This result is a record half performance for the Group.

The Group increased pre-tax profit to £1.2m (H109: £0.9m) with diluted earnings per Ordinary share for the first half of 1.19p (H109: 0.88p). The impact of foreign exchange was relatively immaterial in the first half but the results did benefit from a foreign exchange book gain of £0.2m (H109: £1.4m).

Gross margin within Vicon, a key performance indicator for the Group, has held up well at 69.0% (H109: 71.0%).  Overall, Group gross margin was comparable with the same period last year.

Cash at bank as at 31 March 2010 stood at £4.1m compared with £2.8m as at 30 September 2009 and the Group remains debt free.

As a technology firm, Research and Development ('R&D') remains an important focus for the Group. We continue to invest in R&D, but at a slightly lower level than made in the prior comparative period. At the same time we continue to focus our investments on those projects where we currently see the highest potential return over the long term. 

Vicon

Renewed optimism and market stability was seen in Vicon, with resumed growth in the USA and Rest of World ('ROW') sales also continuing to do well. Overall Vicon achieved revenue of £10.6m (H109: £9.7m), an increase of 9.2%. The US, which had been a tough market last year, recovered in this half reporting growth of 21.7% at constant currency. Whilst ROW achieved growth of 6.1%, including a welcome resurgence in demand from Japan.

To adapt to the challenging market conditions, OMG has moved into new markets and introduced innovative new products to sustain business. We are beginning to see the benefits of this investment in Vicon as some of its growth can be attributed to the introduction of products such as Vicon Bonita, introduced in October 2009.

Vicon Bonita is a lower priced compact motion capture camera enabling a new section of the market to access the highly regarded Vicon qualities and capabilities for the first time. Engineered from the ground up as an entry level camera, Bonita enables customers to benefit from the sophisticated Vicon software at a new price point and opens up OEM opportunities. Furthermore, the camera's compact size also means it can be used in situations where space is restricted, such as in-car ergonomics studies and virtual reality cave applications. The product has sold well in the first half, becoming the fastest selling camera in Vicon's history.

The success of Bonita, the recognised capabilities of the T-Series cameras and the introduction of new real-time software, Tracker, meant engineering sales overtook entertainment sales for the first time. This indicates motion capture is becoming a well understood and standardised measurement technique in a market where accuracy is paramount.

In January 2010 Vicon, in collaboration with Fujikura, the world's premier golf shaft manufacturer, launched 'Enso' at the US PGA show in Orlando. The system uses Vicon motion capture technology to analyse the customer's golf swing and, following an assessment, the optimum shaft for the individual is recommended. The product stole the show and the service will be available in its final form at Pro Fitting centres across the USA this summer.

Vicon Revue was also launched during the first half. Revue, an automatic wearable camera, helps patients with Alzheimer's disease to improve their memory and thus their quality of life. The camera, which includes technology licensed from Microsoft Research, continues to generate huge interest and began shipping to customers in April 2010.

In film and games, Vicon maintained its position of strength, being used in a wide variety of productions, including Disney's Christmas Carol, Clash of the Titans and the chart topping video game Heavy Rain. Furthermore House of Moves, our Los Angeles studio business, now offers the world's largest sound stage motion capture facility with 200 T160 cameras.

Yotta

Yotta UK reported revenue of £2.2m (H109: £2.4m) and an improved operating loss of £0.2m (H109: Loss £0.4m) before allocation of Group overheads. The UK typically presents the business with challenges but a strong finish to the end of the half helped mitigate the unusual loss of so many surveying days due to adverse weather.

In terms of new business during the period, Yotta was awarded the Welsh Assembly Government surveying contract worth £4-5m over the next 4 years. This deal, the largest in OMG history, will cornerstone 20% of Yotta's current annual revenues.

Yotta continued to bring technology innovation to the highways market with the introduction of new data collection software NotaVia. The software enables surveyors to collect data more efficiently and quickly than before and, through its flexible customisation, improves the quality of the data collected. Furthermore, the software enabled Yotta to be the first surveying company to achieve accreditation for the new Footway Network Survey (FNS), which aims to collect condition data on parts of the footway network which have historically been seen as too expensive to survey.

Yotta USA reported revenue of £0.9m (H109: £1.0m) and an operating loss of £0.5m (H109: Loss £0.2m) before allocation of Group overheads. The business has been severely affected by the slow-down in the US economy and in particular the fall in residential property values, which in turn has slowed down appraisal work.

2d3

Our aerial imaging and defence business 2d3, performed well in the first half, achieving increased revenue of £0.7m (H109: £0.4m), resulting in the division's first ever breakeven performance (H109: Loss £0.3m) before allocation of Group overhead. Breakeven represents a major milestone for the Group, as 2d3 has only been a standalone division for the last 3 years. During this period valuable IP has been developed for the Group and 2d3 has established itself as a credible business in the defence market.

2d3 UK had a better first half than expected, whilst the US, despite having an expanding array of opportunities, saw some deals delayed into the second half. The excellent UK performance was largely down to our research service work for the UK Ministry of Defence, where our team of vision experts successfully delivered eight separate research projects.

In keeping with our increased product development across the Group, 2d3 launched a new version of its TacitView software in January 2010. TacitView provides consumers of aerial imagery with an easy to use software application to search, view, combine and enhance geo-located video and still imagery collected from imaging platforms ranging from UAVs (Unmanned Aerial Vehicles) to manned aircraft and vehicles.

In terms of US progress, our partner relationships will be key to growing our presence in this territory and in the first half we signed teaming agreements for USAF Distributed Common Ground Systems ('DCGS') Program and US Army's GRIDS II Program. Furthermore, we also signed our first USA reseller agreement with American Aerospace Advisors for use on US Forestry and Fire Fighting Programs.

Outlook

Overall economic conditions may have improved slightly but the general outlook remains uncertain. OMG's markets are obviously not immune to this uncertainty; however, the Group enjoys the benefits of its diversification operating in multiple geographic markets in which it sells multiple products and services, allowing us to adapt and demonstrate resilience during these challenging times.

Looking around the Group, Vicon continues to enjoy a dominant market position in its established markets and the addition of new products including Bonita, Enso and Revue to its portfolio strengthens the potential for continued growth in the future. Although Yotta USA still faces very challenging market conditions in the USA, Yotta UK is now delivering good quality revenue to the Group and, with a healthy backlog of contracted surveys, is focused on operational execution. 2d3's market interest remains high and the division continues to pursue significant sales opportunities.

We have achieved a record first half and thus OMG enters the second half of the financial year in robust financial health. OMG is well equipped with strong corporate resources and a great team of people who are energised with new products and services.  It is these attributes, along with a healthy cash position, strong Balance Sheet and tight cost control, that allow us to look forward to the second half with cautious optimism.

Anthony Simonds-Gooding, Non-Executive Chairman

Nick Bolton, Group CEO

CONDENSED CONSOLIDATED INCOME STATEMENT

		Six months ended 31 March 2010	Six months ended  31 March 2009	Year ended  30 September 2009
		(unaudited)	(unaudited)	(audited)
	Note	£'000	£'000	£'000
Revenue	2	14,392	13,584	26,190
Cost of sales		(6,846)	(5,972)	(11,940)
Gross profit		7,546	7,612	14,250
Sales, support and marketing costs		(2,069)	(2,369)	(4,278)
Research and development		(1,152)	(1,784)	(3,351)
Administrative expenses		(3,171)	(2,541)	(6,181)
Other income		107	3	178
Operating profit		1,261	921	618
Finance income		6	12	14
Finance expense		(22)	(11)	(22)
Profit before taxation	2,3	1,245	922	610
Taxation	4	(399)	(294)	(128)
Profit for the period attributable to the owners of the Company		846	628	482
Basic earnings per share	5	1.24p	0.96p	0.74p
Diluted earnings per share	5	1.19p	0.88p	0.71p

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

		Six months ended 31 March 2010	Six months ended  31 March 2009	Year ended  30 September 2009
		(unaudited)	(unaudited)	(audited)
	Note	£'000	£'000	£'000
Profit for the period		846	628	482
Other comprehensive income
Currency translation differences		(8)	326	167
Deferred tax in respect of share options		21	(52)	(53)
Total comprehensive income for the period attributable to the owners of the Company		859	902	596

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		31 March 2010	31 March 2009	30 September 2009
		(unaudited)	(unaudited)	(audited)
	Note	£'000	£'000	£'000
Non-current assets
Intangible assets		2,003	2,036	1,824
Goodwill		5,487	5,839	5,402
Property, plant and equipment		2,747	3,070	2,718
Financial asset - investment		69	69	69
Deferred tax asset		644	398	566
		10,950	11,412	10,579
Current assets
Inventories		1,787	3,430	2,309
Trade and other receivables		9,291	7,723	7,627
Cash and cash equivalents		4,077	2,137	2,776
		15,155	13,290	12,712
Current liabilities
Trade and other payables		(6,020)	(5,192)	(4,451)
Current tax liabilities		(539)	(76)	(94)
		(6,559)	(5,268)	(4,545)
Net current assets		8,596	8,022	8,167
Total assets less current liabilities		19,546	19,434	18,746
Non-current liabilities
Financial liabilities		-	(524)	-
Deferred tax liability		(363)	(482)	(405)
		(363)	(1,006)	(405)
Net assets		19,183	18,428	18,341
Equity attributable to the owners of the Company
Share capital	6	171	163	171
Shares to be issued		-	1,470	-
Share premium account		6,773	6,620	6,773
Merger reserve		2,928	1,464	2,928
Retained earnings		9,154	8,387	8,304
Foreign currency translation reserve		157	324	165
Total equity		19,183	18,428	18,341

CONDENSED CONSOLIDATE STATEMENT OF CASHFLOWS

		Six months ended 31 March 2010	Six months ended 31 March 2009	Year ended 30 September 2009
		(unaudited)	(unaudited)	(audited)
	Note	£'000	£'000	£'000
Cash flows from operating activities
Operating profit		1,261	921	618
Depreciation and amortisation		706	823	1,575
Impairment of intangibles		-	-	28
Loss on disposal of property, plant and equipment		-	14	11
Share based payments		85	3	67
Decrease / (increase) in inventories		508	(119)	840
(Increase) / decrease in receivables		(1,654)	3,251	2,503
Increase / (decrease) in payables		1,382	(4,863)	(4,137)
		2,288	30	1,505
Interest paid		(19)	-	-
Tax paid		(50)	(330)	(380)
Net cash from operating activities		2,219	(300)	1,125
Cash flows from investing activities
Purchase of property, plant and equipment		(619)	(474)	(1,029)
Purchase of intangible assets		(348)	(47)	(114)
Proceeds on disposal of property, plant and equipment		142	110	309
Interest received		6	12	14
Acquisition of subsidiary undertaking net of cash acquired		-	-	(236)
Net cash used in investing activities		(819)	(399)	(1,056)
Cash flows from financing activities
Payment of finance lease liabilities		(23)	(100)	(144)
Interest element of finance lease repayments		(3)	(11)	(22)
Equity dividends paid		(102)	(75)	(75)
Net cash used in financing activities		(128)	(186)	(241)
Net increase / (decrease) in cash and cash equivalents		1,272	(885)	(172)
Cash and cash equivalents at beginning of the period		2,776	2,877	2,877
Effect of exchange rate changes		29	145	71
Cash and cash equivalents at end of the period		4,077	2,137	2,776

CONDENSED CONSOLIDATED STATEMENT OF CHANGES TO EQUITY

	Share Capital	Shares to be issued	Share premium account	Merger reserve	Retained earnings	Foreign currency translation reserve	Total
	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Balance as at 1 October 2009	171	-	6,773	2,928	8,304	165	18,341
Total comprehensive income for the period	-	-	-	-	867	(8)	859
Transactions with owners:
Dividends	-	-	-	-	(102)	-	(102)
Movement in relation to share based payments	-	-	-	-	85	-	85
Balance as at 31 March 2010	171	-	6,773	2,928	9,154	157	19,183
Balance as at 1 October 2008	163	1,470	6,620	1,464	7,883	(2)	17,598
Total comprehensive income for the period	-	-	-	-	576	326	902
Transactions with owners:
Dividends	-	-	-	-	(75)	-	(75)
Movement in relation to share based payments	-	-	-	-	3	-	3
Balance as at 31 March 2009	163	1,470	6,620	1,464	8,387	324	18,428
Balance as at 1 October 2008	163	1,470	6,620	1,464	7,883	(2)	17,598
Total comprehensive income for the period	-	-	-	-	429	167	596
Transactions with owners:
Dividends	-	-	-	-	(75)	-	(75)
Shares issued	8	(1,470)	153	1,464			155
Movement in relation to share based payments	-	-	-	-	67	-	67
Balance as at 30 September 2009	171	-	6,773	2,928	8,304	165	18,341

The accompanying notes are an integral part of this interim financial information

NOTES TO THE CONDENSED CONSOLIDATED INTERIN STATEMENTS

1.  Basis of preparation

OMG Plc (the "Company") is a company domiciled in England.  The condensed consolidated interim financial statements of the Company for the six months ended 31 March 2010 comprise the Company and its subsidiaries (together referred to as the "Group").

The IASB has issued the following revised and updated standards that are applicable to the Group and that resulted in changes in the presentation for this accounting period; IAS 1 (revised) 'Presentation of financial statements' and IFRS 8 'Operating Segments'.

IAS 1 (revised) updates the presentation of the key statements of performance and position of the Group.  The revised standard has no impact upon the reported results of the Group.

IFRS 8 introduces new requirements for segmental reporting, aligning operating segments to those segments reported internally to senior management.  The basis for the segments under IFRS 8 is set out in note 2 below.  The standard does not change the recognition, measurement or disclosure of transactions in the consolidated financial statements.

In addition the following IFRIC amendments and IASs have been adopted although they have no impact on the Group's reporting: 

·      IFRIC 9 'Reassessment of embedded derivatives'

·      IFRIC 15 'Agreements for the construction of Real Estate'

·      IFRIC 17 'Distributions of Non-cash Assets to Owners'

·      IFRIC 18 'Transfer of Assets from Customers'

·      IAS 23 (Amendment) 'Borrowing Costs'

·      IAS 27 (Amendment) 'Consolidated and Separate Financial Statements'

·      IAS 32 (Amendment) 'Presentation'

·      IAS 36 (Amendment) 'Impairment of assets'

·      IAS 39 (Amendment) 'Financial Instruments: Recognition and Measurement: Eligible Hedged Items'

·      IFRS 2 (Amendment) 'Share-based payment'

·      IFRS 3 'Business Combinations' (revised)

·      IFRS 7 (Amendment) 'Financial Instruments: Disclosures'

·      Improvements to IFRSs (2008)

Otherwise, the condensed consolidated interim financial statements have been prepared using accounting policies consistent with those of the annual financial statements for the year ended 30 September 2009.  They are in accordance with IAS 34.

The interim financial statements have not been audited or reviewed and the financial information contained in this report does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. The comparative figures for the year ended 30 September 2009 are not the statutory accounts but have been extracted from the Group's 2009 financial statements which have been delivered to the Registrar of Companies. The auditors' report on those financial statements was unqualified did not contain references to any matters to which the auditors drew attention without qualifying the report  and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006. 

2.  Segmental reporting

In accordance with IFRS 8, 'Operating Segments', the group has derived the information for its operating segments using the information used by the Chief Operating Decision Maker.  The Group has identified the Board of Directors of OMG plc ("the Board") as the Chief Operating Decision Maker as it is responsible for the allocation of resources to operating segments and assessing their performance.  Operating segments are consistent with those used in internal management reporting and the profit measure used by the Board is the profit before tax as set out below.

The Group considers business segments as determined by reference to the markets in which they operate, which also follows the legal entity structure of the Group.

Information is presented in the condensed consolidated interim financial statements in respect of the Group's three business segments.

Vicon - this is the development, production and sale of computer software and equipment for the entertainment, engineering and life science markets.

2d3 - this is the development and sale of computer software and equipment for the defence market

Yotta - the provision of services for the management of infrastructure and taxation.

			Six months ended 31 March 2010 (unaudited)
	Vicon	2d3	Yotta	Other	Unallocated	Group
	£'000	£'000	£'000	£'000	£'000	£'000
Revenue
Total segment revenue	10,603	680	3,109	-	-	14,392
Segment result
Operating profit/(loss)	2,749	(237)	(988)	(208)	(55)	1,261
Finance income						6
Finance costs						(22)
Profit before tax						1,245
Tax						(399)
Profit after tax						846

			Six months ended 31 March 2009 (unaudited)
	Vicon	2d3	Yotta	Other	Unallocated	Group
	£'000	£'000	£'000	£'000	£'000	£'000
Revenue
Total segment revenue	9,710	438	3,390	46	-	13,584
Segment result
Operating profit/(loss)	1,739	(290)	(372)	(157)	1	921
Finance income						12
Finance costs						(11)
Profit before tax						922
Tax						(294)
Profit after tax						628

			Year ended 30 September 2009 (audited)
	Vicon	2d3	Yotta	Other	Unallocated	Group
	£'000	£'000	£'000	£'000	£'000	£'000
Revenue
Total segment revenue	18,355	905	6,882	48	-	26,190
Segment result
Operating profit/(loss)	2,314	(366)	(938)	(311)	(81)	618
Finance income						14
Finance costs						(22)
Profit before tax						610
Tax						(128)
Profit after tax						482

Total segment assets were as follows:

Period ended	Vicon	2d3	Yotta	Other	Unallocated	Group
	£'000	£'000	£'000	£'000	£'000	£'000
31 March 2010	12,299	1,698	11,810	-	298	26,105
31 March 2009	11,901	672	10,948	49	1,132	24,702
30 September 2009	10,556	953	11,279	42	461	23,291

3.  Reconciliation of adjusted profit before tax

	Six months ended 31 March  2010	Six months ended 31 March  2009	Year  ended 30 September 2009
	(unaudited)	(unaudited)	(audited)
	£'000	£'000	£'000
Profit before tax	1,245	921	610
Share based payments - equity settled	85	3	67
Amortisation of intangibles arising on acquisition	94	107	195
Non-recurring charges	-	189	239
Adjusted profit before tax	1,424	1,220	1,111

Non-recurring charges comprise of redundancy costs and restructuring costs.

4.  Taxation

The Group's consolidated effective tax rate for the six months ended 31 March 2010 was 32.0% (for the six months ended 31 March 2009: 31.9%; for the year ended 30 September 2009: 21.0%).

In accordance with IAS 34 the tax charge for the half year is calculated on the basis of the estimated full year tax rate.

5.  Earnings per share

The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the period.  The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares on the assumed conversion of all dilutive options.

	Six months ended 31 March 2010	Six months ended 31 March 2009	Year ended 30 September 2009
	(unaudited)	(unaudited)	(audited)
	£'000	£'000	£'000
Profit attributable to ordinary shareholders	846	628	482
	000's	000's	000's
Weighted average number of ordinary shares for the purpose of basic earnings per share	68,306	65,190	65,577
Dilutive effect of employee share options	2,753	6,218	2,656
Weighted average number of ordinary shares for the purpose of dilutive earnings per share	71,059	71,408	68,234
Basic earnings per share (pence)	1.24	0.96	0.74
Diluted earnings per share (pence)	1.19	0.88	0.71

6.  Share capital

	31 March	31 March	30 September
	2010	2009	2009
	(unaudited)	(unaudited)	(audited)
	£'000	£'000	£'000
Authorised
100,000,000 ordinary shares of 0.25p	250	250	250
Allotted, called up and fully paid
68,306,306 shares of 0.25p (31 March 2009: 65,190,166 shares of 0.25p and 30 September 2009: 68,306,306 shares of 0.25p)	171	163	171

During the previous year and the six month period ended 31 March 2010 no ordinary shares of 0.25p were issued for cash in respect of share options exercised.

7.  Dividends

The following dividends were recognised as distributions to equity holders in the period:

	31 March	31 March	30 September
	2010	2009	2009
	(unaudited)	(unaudited)	(audited)
	£'000	£'000	£'000
Final dividend for 2008 paid in 2009 - 0.115 pence per share	-	75	75
Final dividend for 2009 paid in 2010 - 0.15 pence per share	102	-	-

8.  Copies of the interim statement

Copies of the interim statement will be sent to shareholders.  Further copies will be available from the Company's registered office at 14 Minns Business Park, West Way, Oxford OX2 0JB, and from the Company's website: www.omgplc.com.

 

END

 

 

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