Published: 13 November 2014
Idox plc (AIM: IDOX), a supplier of complex information management solutions, provides an update on trading for the year ended, 31 October 2014.
The Company is pleased to report its results for the year will be in line with market expectations, with revenues 6% higher on last year. The Group has made good progress across its businesses, allowing it to maintain its forward guidance.
The Public Sector Solutions Division (PSSD) ended the year ahead of plan with revenue 9% higher on a constant currency basis, due to a significant number of notable local council contract wins for hosted and managed services, further market share gains and a strong performance from its Elections business. Idox successfully provided the majority of electoral services for the Scottish referendum, with its systems managing the highest turnout (85%) in recent years for a major UK election. The division's Information business saw double digit revenue growth following a reorganisation in the second half, while in the Netherlands the Grants business reported an increase in revenue despite a reduction in the grant rate during the year. The Compliance business has met expectations and has been strengthened, in October, with the acquisition of Digital Spirit, which the board believes will place the business in a market leading position across Europe.
The Engineering Information Management Division (EIM) grew revenue by 4% on a constant currency basis, and by 1% on a reported basis following adjustments for adverse exchange rate movements, against the backdrop of difficult conditions in some of its global markets, in particular the oil and gas sector. It has been substantially reorganised and refocused this year, which has already seen significant improvement in, among other areas, the execution of professional services projects, resulting in a year-on-year growth in services revenues of 16%.
The board expects to report its final results in early January.
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 (Financial PR) +44 (0) 7795 168 157
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 570 staff located in the UK, the USA, Canada, Europe, India and Australia.
Updated: 21 March 2018