17th Nov 2015 10:36
LONDON (Alliance News) - Software and services provider IDOX PLC on Tuesday said its expects its adjusted results to be in line with its expectations for the financial year to the end of October and it has maintained its guidance for the current financial year.
The company said it performed well over the recent year, despite challenges in its engineering information management arm coming from weak energy markets and foreign exchange fluctuations.
Revenue from the group's public sector unit, which contributes 78% of group sales, grew 13% in the year, boosted by its grants and compliance units, while elections revenue almost halved.
IDOX said Facilities Management revenue grew 8%, while EIM revenue fell 22%.
As a result, the group expects its adjusted profit for the year to meet its expectations. The adjusted numbers are defined as earnings before amortisation, restructuring, acquisition, corporate finance and share option costs.
"We are pleased to have delivered a strong result in line with our expectations, despite some market challenges, and we continue to benefit from our diversified business model and sources of earnings," said Richard Kellett-Clarke, IDOX's chief executive.
"IDOX is in good shape and we are encouraged by the opportunities and outlook for the business in the coming year," he added.
Shares in IDOX were up 1.2% at 45.53 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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