16th Dec 2015 09:39
LONDON (Alliance News) - Software and services company IDOX PLC said Wednesday its overall outlook remains unchanged after it posted higher pretax profit and revenue for its recently-ended financial year and hiked its dividend.
The company said pretax profit for the year to October 31 was GBP9.8 million, up from GBP7.6 million a year earlier, as revenue rose to GBP62.6 million from GBP60.7 million and its adjusted earnings before interest, taxation, depreciation and amortisation margin improved to 29.1% from 27.0%.
The group saw a strong performance from its public sector software business, which accounts for 78% of revenue, with more managed services contract won and its market share increased. The group also managed to absorb the impact of lower-than-expected revenue around the UK's General Elections and improved its margins in its engineering business, having faced challenges for that unit over the course of the year.
The company has proposed a final dividend of 0.525 pence, up from 0.425p, while its total dividend rises to 0.85p from 0.75p.
IDOX said, for the first time in three years, all its markets have a stable outlook and said its expectations for its financial performance in the current financial year are unchanged.
"Overall, the outlook for Idox in the coming years is very encouraging. Interesting opportunities are opening up in our core markets and internationally through recent acquisitions. With the enhanced team and closer operational integration, the business is in a strong position and we are looking forward to a successful year ahead," said Chief Executive Richard Kellett-Clarke.
IDOX shares were up 4.2% to 47.391 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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