(“Idox”, “the Company” or “the Group”)
AGM Trading update
Positive start to new financial year
Idox plc (AIM: IDOX), a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, is pleased to issue a trading update for the period 1 November 2022 to date, ahead of today’s Annual General Meeting.
Highlights during the period include:
- Operational and financial performance continue to be in line with the Board’s expectations.
- Operating under a new divisional structure of Land, Property and Public Protection, Communities and Assets, the Group continues to make encouraging organic progress in its chosen markets.
- Recent developments regarding Silicon Valley Bank have had no material impact on the Group.
- High levels of recurring revenue, contract renewals, orderbook and pipeline provide good visibility, and leave Idox well placed to grow by double digits in FY23.
A further trading update will be issued following the half year ending 30 April 2023.
David Meaden, Chief Executive Officer, said:
“We remain confident that Idox is well positioned for growth in FY23 and beyond. The Group has made an encouraging start to the year and continues to trade in line with the Board’s expectations. We have an attractive acquisition pipeline and our high quality recurring revenue and order book, coupled with our financial resources, will enable us to maximise the opportunities for profitable growth whilst remaining resilient to the current macro-economic challenges.”
For further information please contact:
Chris Stone, Non-Executive Chairman
David Meaden, Chief Executive Officer
Anoop Kang, Chief Financial Officer
+44 (0) 870 333 7101
Peel Hunt LLP (NOMAD and Broker)
+44 (0) 20 7418 8900
+ 44 (0) 203 128 8276