AGM Trading Update
Idox plc (AIM: IDOX), a leading supplier of software and services to the public and private sectors, is holding its Annual General Meeting later today. The Chairman, Laurence Vaughan, will make the following remarks:
“Last year we were delighted to deliver a strong result, benefitting from our diversified business model, multiple sources of earnings and the hard work and dedication of our loyal employees. We are pleased to report that the current financial year commencing 1 November 2015 has started in line with our expectations and that we are making good progress on a number of fronts in the UK and Europe, with a good flow of contract wins in local government and our other segments.
iApply, our sophisticated solution for planning and building control, which we launched in December 2015, has seen clear traction and take-up from local authorities across the UK. Applications are already flowing through the system, transforming the planning and building control process into a single-source online submission suite with increasing functionality and flexibility. Later this year we are launching a new range of intuitive Apps for tablets, enhancing our product offering by permitting council workers and inspectors to enter and submit data directly into Idox systems while on site.
Reading Room, which was acquired on 8 October 2015, to expand our digital services platform is now fully integrated. It extends our reach in the area of digital change and consultancy across the UK and Europe, targeting both government and private sector customers.
Our online grants tool, RESEARCHconnect, which is designed to identify research funding opportunities is continuing to make progress in Europe and now has as many clients outside the UK as within, including new contracts secured in France, Germany, Austria and Slovenia.
Our elections business is expected to benefit from the recently announced European referendum due to be held on 23 June 2016. Our engineering, compliance and other segments are trading in line with our expectations in relatively stable market conditions and have made good progress in operational terms.
The Group retains significant financial flexibility to fund investment and potential acquisitions.
Overall, Idox is in good shape and we are encouraged by the opportunities and outlook for the business this year.”
For further information please contact:
Idox plc +44 (0) 870 333 7101
Richard Kellett-Clarke, Chief Executive
Jane Mackie, Chief Financial Officer
Andrew Riley, Chief Operations Officer
N+1 Singer (Nominated adviser and Broker) +44 (0) 20 7496 3000
MHP Communications +44 (0) 20 3128 8100
Reg Hoare/Andrew Leach/Charlie Barker
About Idox plc
Idox plc is a supplier of specialist document management collaboration solutions and services to the public sector and increasingly to highly regulated asset intensive industries around the world in the wider corporate sector.
Its Public Sector Software Division is the leading applications provider to UK local government for core functions relating to land, people and property, such as its market leading planning systems and election management software. Over 90% of UK local authorities are now customers. The Division provides public sector organisations with tools to manage information and knowledge, documents, content, business processes and workflow as well as connecting directly with the citizen via the web, and providing elections management solutions. It also supplies in the UK and internationally, decision support content such as grants and planning policy information and corporates compliance services.
The Engineering Information Management Division delivers engineering document control, project collaboration and facility management applications to many leading companies in industries such as oil & gas, architecture and construction, mining, utilities, pharmaceuticals and transportation in North America and around the world.
The Group employs over 660 staff located in the UK, the USA, Canada, Europe, India and Australia.
Information last updated: 22 March 2018