IDOX PLC Trading Update (8350Q)
November 12 2012 - 2:01AM
UK Regulatory
TIDMIDOX
RNS Number : 8350Q
IDOX PLC
12 November 2012
12 November 2012
Idox plc
Trading Update
Idox plc (AIM: IDOX, 'Idox' or 'the Group'), a leading
independent supplier of software & services, is pleased to
update shareholders on trading for the year ended 31 October
2012.
The Group's three key metrics being revenue, EBITDA and
adjusted* pre-tax profit, are all expected to be comfortably ahead
of consensus market expectations for the full year. Like-for-like
organic growth has also been particularly encouraging in both the
public sector and engineering software divisions which, together
with our active acquisition programme, will deliver significant top
line revenue growth for the year.
The Public Sector division continues to benefit from assisting
local councils to achieve their cost savings and is expected to
perform better than forecast, together with organic growth at a
higher level than anticipated, due to the successful implementation
within UK councils of our managed services and hosting products.
The Group has been awarded a framework agreement by the Government
Procurement Service for G-Cloud Services following an application
and review of its Cloud offerings.
Continued new client wins within the Engineering Information
Management (EIM) division, notably in North America, including two
new contracts to provide SaaS solutions within the oil and gas
industry, means the division is expected to report performance
ahead of management's expectations and deliver stronger than
anticipated organic growth. McLaren, the Group's industry
specialised document management subsidiary, recently launched
Enterprise OnAir, its privately hosted Cloud infrastructure,
providing enterprise scalability, data and access security, across
the whole lifecycle of the project. The division has also made very
encouraging progress in penetrating the Asia Pacific markets,
particularly, China, Taiwan and Australia, as well as Russia.
The EIM division's acquisition of FMx on 19 October 2012 extends
the Group's offering within this sector by providing computer-aided
facilities management software solutions to both private and public
sector organisations, which since acquisition has already been
added to the OnAir platform.
The Information Solutions division completed the integration of
two recently acquired companies - the e-learning business,
Interactive Dialogues and Dutch based grants advisory business,
Currency Connect - both of which are now positioned for growth.
Idox will announce its final results for the year ended 31
October on Wednesday 12 December 2012.
*Adjusted profit before tax excludes amortisation, exceptional
restructuring and corporate finance charges and share option
costs.
Richard Kellett-Clarke, CEO of Idox, said:
"We continue to develop new and innovative methods to drive
productivity within the Public Sector, a market which is now
focused on managing costs and efficiency. Our strategy to
differentiate within the Engineering Information Management sector,
by being the only provider to offer a cross platform interoperable
solution, is now beginning to show results and, in 2013 this
division will continue the process of adding new markets to its
North American core. "
Enquiries:
Idox plc +44 (0) 20 7332 6000
Richard Kellett-Clarke, Chief Executive
William Edmondson, Chief Financial
Officer
Investec Bank plc +44 (0) 20 7597 5000
Andrew Pinder / Patrick Robb
finnCap +44 (0) 20 7220 0500
Stuart Andrews/Stephen Norcross
Leander PR +44 (0) 7795 168 157
Christian Taylor-Wilkinson
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 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, content, business processes and workflow as well as
connecting directly with the citizen via the web.
Through the Information Solutions Division Idox also supplies,
predominantly to the public sector, decision support content such
as grants and planning policy information as well as related
specialist 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 around the world.
In addition the Group provides knowledge and content management
skills to customers through its TFPL branded recruitment
division.
The Group employs over 500 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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