LONDON (ShareCast) - (Sharecast News) - Idox said in an update on Monday that it has made a positive start to the current financial year, with trading for the period from 1 November to date in line with the board's expectations.
The AIM-trade firm, which was holding its annual general meeting and supplies information management software and geospatial data solutions to public sector and asset-intensive clients, confirmed that it was on track to deliver revenue and adjusted EBITDA growth in 2025, alongside a reduction in net debt.

Recent contract wins and extensions across all business divisions, combined with strong pipeline visibility, underpinned the board's confidence for continued progress this year.

Idox also highlighted the benefits of ongoing investment in its workforce and technology platforms, which it said had strengthened its position in key sectors including geospatial, land and property, public protection, communities, and assets.

The group added that its financial strength left it well-placed to pursue larger, technology-enhancing acquisitions on attractive terms.

A further trading update was scheduled to follow the close of the half year ending 30 April.

"Idox has made a positive start to the year and we continue to trade in line with the board's expectations," said chief executive officer David Meaden.

"Whilst remaining cognisant of the wider political and economic uncertainties, our focus on securing high quality recurring revenue and repeatable services provides confidence that Idox is well positioned for further growth in 2025 and beyond.

"We continue to maintain a strong balance sheet and remain confident about adding further scale to the group through value enhancing mergers and acquisitions."

At 1330 GMT, shares in Idox were up 1.38% at 58.8p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE