27th Jan 2022 17:21
Idox PLC - Reading, England-based supplier of information management software for public and 'asset intensive' sectors - Pretax profit jumps in financial year that ended October 31 to GBP7.3 million from a restated GBP1.8 million in financial 2020, as revenue grows by 8.6% to GBP62.2 million from GBP57.3 million.
Also helping, finance costs are slashed in half to GBP1.2 million from GBP2.4 million as net debt is cut in half as well to GBP8.1 million from GBP16.1 million. Declares 0.4 pence dividend, up a third from 0.3p the year before, citing a healthy financial position and strong cash generation.
Says financial 2022 has started well and in line with expectations, as the business benefits from the sale of its non-core Content business and acquisition of three public sector software firms last year. "The outlook for the business remains strong, and we are well positioned in our 'fly' stage of growth," says Chief Executive David Meaden.
Current stock price: 66.80 pence, down 0.3% on Thursday
12-month change: up 26%
By Tom Waite; [email protected]
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