Group revenues grew by 16% to £88.9m.

2017 Financial & Operational Highlights

 

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Financial Highlights

  • Revenues up 16% to £88.9m (2016: £76.7m)
  • Adjusted EBITDA* decreased 14% to £18.5m
    (2016: £21.5m)
  • Adjusted EBITDA* margin 21% (2016: 28%)
  • Ajusted profit before tax** £12.1m (2016: £16.7m)
  • Adjusted EPS** 2.40p (2016: 4.11p)
  • Net debt as at 31 October 2017 stood at £32.1m
  • (31 October 2016 £25.0m; £3.5m net cash outflow on two acquisitions in the financial year and £11.4m bond on 6PM acquisition)
  • Proposed final dividend of 0.655p (2016: 0.650p) making a total of 1.040p (2016: 1.000p), an increase of 4% for the financial year

* Adjusted EBITDA is defined as earnings before amortisation, depreciation, restructuring, acquisition, impairment, corporate finance costs and share option costs
** Adjusted profit before tax and adjusted EPS excludes amortisation on acquired intangibles, restructuring, impairment and acquisition costs

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Operational Highlights

  • Recurring and repeating revenues represented
    84% of revenues
  • Strategic focus on, and continued investment in, public sector 
  • New digital services platform, enabled by recent acquisitions, underpinning public sector focus and future growth 
  • Another strong performance from Public Sector
    Software (PSS):
    • Represented 46% of Group revenues
    • Strong election year and winning of market share
    • Won 108 new local authority customers – 94% of all local authorities now customers
  • Acquisitions:
    • 6PM Group delivers healthcare solutions,
      principally to the NHS within the UK, using a combination of proprietary software, infrastructure, and professional services that enables healthcare organisations to enhance and optimise efficiency.
    • Halarose develops, markets, sells and supports a range of electoral back office software and services to UK local authorities. It enables its customers to be more efficient both in the production and management of the electoral register and in the running of elections and referenda. The acquisition is in line with Idox's  strategic focus.

Rule 26
Information last updated: 31 May 2018

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