Trading Statement (2682E)
May 29 2012 - 2:00AM
UK Regulatory
TIDMIDOX
RNS Number : 2682E
IDOX PLC
29 May 2012
29 May 2012
IDOX plc
Trading update for the six months ended 30 April 2012
IDOX plc (AIM: IDOX, 'IDOX' or the 'Group'), a leading supplier
of software and services, announces a trading update for the six
months to 30 April 2012.
Both revenue and normalised profits are substantially ahead of
the first half of 2011. Excluding acquisitions, Group revenues from
operations in the public sector and the Engineering Information
Management businesses delivered 10% organic growth. Including
acquisitions, consolidated revenues increased by 58% over the
comparable period last year.
The UK public sector business has expanded its prospect pipeline
in managed and hosted services and continues to see organic revenue
growth through new customer wins.
Revenue growth in the Engineering Information Management
business has benefited from several landmark contracts across a
range of sectors - with US electricity generator Southern Company
in the utility sector, Occidental in Oil and Gas, and CH2M Hill in
construction and engineering.
The integration of CTSpace, acquired in November 2011, is now
complete with the full benefit of all changes to be realised by
October 2012. Opt2vote, acquired in March, will be fully integrated
by the end of July, having successfully completed the first
Scottish electronic local government elections in May. Currency
Connect, the grants advisory business acquired post period-end in
May, has already changed its name to Innovation Connect and merged
with IDOX's existing operations in Holland.
IDOX has embarked on a recruitment programme to hire new
graduates across the Group in order to add additional resourcing to
the company's drive for product innovation.
The Group expects to announce its interim results on 26 June
2012.
Richard Kellett-Clarke, Chief Executive Officer, said:
"All core parts of the Group have shown growth under the new
management structure. More importantly, all have met their goals
for the implementation of hosted services, efficiencies and the
development of innovative ideas.
"The acquisitions made are allowing us to leverage better our
core technology skills in large scale document and information
management and collaboration solutions into new industries and
territories, providing the Group with additional revenue streams in
the UK and internationally. We continue to look to extend our
capabilities into new business areas via acquisition opportunities
and organically."
Enquiries:
IDOX plc +44 (0) 20 7332 6000
Richard Kellett-Clarke, Chief Executive
William Edmondson, Chief Financial
Officer
Investec Investment Banking +44 (0) 20 7597 5100
Andrew Pinder / Patrick Robb
FinnCap +44 (0) 20 7600 1658
Stuart Andrews / Stephen Norcross
College Hill +44 (0) 20 7457 2020
Adrian Duffield / Kay Larsen
About IDOX plc
IDOX plc is a supplier of specialist document management
collaboration solutions and services to the UK public sector and
increasingly to highly regulated asset intensive industries around
the world in the wider corporate sector.
Its public sector software and service 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 Group provides public sector organisations with tools to
manage information and knowledge, documents and content, business
processes and workflow as well as connecting directly with the
citizen via the web.
These capabilities were extended via the acquisition of McLaren
Software in 2010 and CTSpace in 2011 into the related area of
engineering document management and control applications, to form
its engineering information division. This serves many leading
companies in industries such as oil & gas, mining, utilities,
pharmaceuticals and transportation around the world.
IDOX also supplies decision support content such as grants and
planning policy information as well as related specialist services
via the IDOX Information Solutions business. In addition, it
provides knowledge and content management skills to customers
through its TFPL branded recruitment division.
The company employs over 400 staff located in the UK, the USA,
Europe, India and Australia.
For more information see www.idoxplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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