Published: 8 June 2015
IDOX plc (AIM: IDOX, "Idox", "the Company" or "the Group"), a leading supplier of specialist information management solutions and services, announces interim results for the six months ended 30 April 2015.
Financial and Operational Highlights
- Revenues flat at £29.6m (H1 2014: £29.6m)
- 14% increase in Public Sector revenue to £22.5m (H1 2014 £19.7m)
- Reduction in net debt to £9.7m from £15.8m as at 31 October 2014
- £2m revenue generated from outsourced service delivery for the 2015 UK General Election
- Successful integration of Digital Spirit acquisitio
- Adjusted EBITDA* down 10% to £7.1m (H1 2014: £7.9m)
- Profit before tax down 11% to £3.1m (H1 2014: £3.5m)
- Adjusted basic EPS** 1.49p (H1 2014: 1.51p). Basic EPS 0.65p (H1 2014: 0.75p)
Martin Brooks, Chairman of Idox, commented:
"We have reacted swiftly to focus our efforts in response to the continued uncertainty in some of our markets, whilst we continue to invest for growth. July will see the launch of our local government planning and building control register which is the culmination of four years of incremental development and which will open up new opportunities nationally. The first half performance and achievements position the business to realise the board's expectations for the full year."
* Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation, restructuring,
acquisition, corporate finance and share option costs
** Adjusted EPS excludes amortisation, restructuring, acquisition, corporate finance and share option costs
Idox plc Interim Results
IDOX plc +44 (0) 870 333 7101
Martin Brooks, Chairman
Richard Kellett-Clarke, Chief Executive
Jane Mackie, Chief Financial Officer
N+1 Singer (NOMAD and Broker) +44 (0) 20 7496 3000
Leander PR +44 (0) 7795 168 157
About Idox plc
Idox plc is a supplier of specialist information management solutions to the public sector and to highly regulated asset intensive industries around the world in the wider corporate sector.
Idox 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. Idox 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. Idox 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 560 staff located in the UK, North America, Europe, India and Australia.
Updated: 21 March 2018