26th Jan 2023 12:13
Idox PLC - Reading, England-based supplier of information management software for public and "'asset intensive' sectors - Posts a 6.4% rise in revenue for the financial year ended October 31 to GBP66.2 million, up from GBP62.2 million the year before. Pretax profit, however, drops by 9.6% to GBP6.6 million from GBP7.3 million, as finance costs rise to GBP2.2 million from GBP1.2 million the year before. Adjusted earnings before interest, tax, depreciation and amortisation margin improves to 34% compared to 31% in financial 2021Idox explains that margin improvement was "driven by operational improvements, acquisitions, and business mix."
Declares a total dividend of 0.5 pence per share, up 25% from 0.4p a year prior. Looking ahead, expects to trade in line with board's expectations, adding it is "operating in good markets, with strong market positions and insights".
Chief Executive David Meaden says: "By refocusing Idox as a software business, we have been largely insulated from the broader issues affecting the economy and by adopting market leadership positions in a small number of clearly defined areas, we have also been able to substantially improve the overall quality of our proposition. We have started the new financial year encouragingly, with trading in line with our expectations, and we are confident about the outlook for the year as a whole."
Current stock price: 63.30p each, up 0.2% on Thursday around midday in London
12-month change: down 5.5%
By Xindi Wei, Alliance News reporter
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