Imaging software developer OMG says that revenues will exceed £26m and profits will be in line with expectations in the year to September 2009.
House broker Daniel Stewart forecasts a fall in profits from £1.6m to £930,000 in the year to September 2009. Earnings per share will halve to 0.9p due to a higher tax charge. The broker had also forecast a fall in revenues from £26.2m to £25.2m.
The strength of sterling in the second half led to foreign exchange losses that partly offset the gains in the first half. These foreign exchange gains and losses complicate the reported profit.
The order pipeline is “encouraging”.
OMG had £2.8m in the bank at the end of September 2009 – the figure was £1.61m six months earlier.
The full year figures will be published on 1 December.
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