IDOX (IDOX)

Sector:

IT Services

Index:

FTSE AIM 50

62.40p
   
  • Change Today:
      0.40p
  • 52 Week High: 69.00p
  • 52 Week Low: 54.20p
  • Currency: UK Pounds
  • Shares Issued: 460.18m
  • Volume: 142,932
  • Market Cap: £287.15m
  • RiskGrade: 278
  • Beta: 0.15

Idox reports solid growth following content disposal

By Josh White

Date: Thursday 27 Jan 2022

LONDON (ShareCast) - (Sharecast News) - Information management software company Idox reported revenue from continuing operations of £62.2m in its final results on Thursday, up 9% year-on-year, which included a 5% organic increase.
The AIM-traded firm said recurring revenue was ahead 2% year-on-year for the 12 months ended 31 October, at £36.3m.

Adjusted EBITDA was 13% higher at £19.5m, as the company's adjusted EBITDA margin improved to 31% from 30%.

Its operating profit grew 90% to £7.6m, and the operating profit margin improved to 12% from 7%.

Adjusted diluted earnings per share increased 54% to 2.27p, and diluted earnings per share rose to 1.34p from 0.11p.

Free cash flow totalled £7.1m for the year, down from £11.2m in the 2020 financial year, following the planned repayment of 2020 VAT deferrals.

Idox said the disposal of its content businesses generated net proceeds of £10.7m, as it completed three acquisitions in the year for an initial net consideration of £10.5m.

Net debt at year-end on 31 October narrowed by 50% year-on-year to £8.1m.

The board declared a final dividend of 0.4p per share, reflecting the company's "strong" cash generation and "healthy" financial position.

Looking ahead, Idox said the 2022 financial year had started well, in line with expectations, adding that a combination of recurring revenue and its order book, driven by second half sales orders, as well as resilient public sector markets, provided good visibility for revenue.

The firm added that the sales pipeline for the year was "encouraging", and said acquisitions made in 2021 were integrating well and to plan, with a "good line of sight" over an attractive mergers and acquisitions pipeline.

"We are pleased to report another year of strong financial performance, and strategic and operational progress," said chief executive officer David Meaden.

"After exiting our non-core content businesses in March, we acquired three excellent public sector software businesses, improved our balance sheet strength, and extended our financing facilities for a further 18 months, to June 2024, on improved terms.

"We have invested in our people, improved our engagement with customers and focused our product efforts in response to the increasing pace of the move to digitisation and cloud."

Meaden said the company was continuing to improve its supporting infrastructure and processes to ensure "efficient and effective execution", and to support its ambitions to grow both organically and inorganically.

"The outlook for the business remains strong and we are well positioned in our 'fly' stage of growth to continue to create good value for our people, customers and shareholders."

At 1412 GMT, shares in Idox were up 2.08% at 68.39p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IDOX Market Data

Currency UK Pounds
Share Price 62.40p
Change Today 0.40p
% Change 0.65 %
52 Week High 69.00p
52 Week Low 54.20p
Volume 142,932
Shares Issued 460.18m
Market Cap £287.15m
Beta 0.15
RiskGrade 278

IDOX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.09% below the market average97.09% below the market average97.09% below the market average97.09% below the market average97.09% below the market average
80% below the sector average80% below the sector average80% below the sector average80% below the sector average80% below the sector average
Price Trend
8.92% above the market average8.92% above the market average8.92% above the market average8.92% above the market average8.92% above the market average
3.45% above the sector average3.45% above the sector average3.45% above the sector average3.45% above the sector average3.45% above the sector average
Income
88.63% below the market average88.63% below the market average88.63% below the market average88.63% below the market average88.63% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Growth
16.87% above the market average16.87% above the market average16.87% above the market average16.87% above the market average16.87% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IDOX Dividends

  Latest Previous
  Final Final
Ex-Div 28-Mar-24 30-Mar-23
Paid 12-Apr-24 14-Apr-23
Amount 0.60p 0.50p

Trades for 21-Nov-2024

Time Volume / Share Price
16:35 4,112 @ 62.40p
16:35 6 @ 62.40p
16:35 816 @ 62.40p
16:35 21 @ 62.40p
16:35 15 @ 62.40p

IDOX Key Personnel

CEO David Meaden

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