Business
Half Year Trading Update and Notice of Results
Half Year Trading Update and Notice of Results.
About this update from Idox Plc
[{"type":"text","content":"\n \nRNS Number : 4762F IDOX PLC 18 May 2017 \n\n18 May 2017\n \nIdox plc\n(\"Idox\", the \"Company\" or the \"Group\")\n \nHalf Year Trading Update\nNotice of Half Year Results\n \nGood progress in renewed public sector focus and encouraging outlook\n \n \nIdox plc (AIM: IDOX), a leading supplier of specialist information management solutions and services to the public sector, today provides an update on trading for the six months ended 30 April 2017. \n \nOverview\nRevenues have grown by 19%, principally as a result of the initial contributions from the acquisitions of Idox Health (formerly 6PM, completed 31 January 2017), Open Objects, (part of the Public Sector division, completed 26 July 2016) and Rippleffect (part of the Digital division, completed 22 August 2016). \n \nAdjusted EBITDA* for the first six months is in line with management expectations and slightly ahead of the same period last year. Overall, the Group remains on track to deliver in line with its expectations for the year as a whole reflecting the benefits of these acquisitions, organic growth from recent contract wins, and seasonality.\n \nOur renewed strategic focus on, and investment in, growth opportunities in the public sector has led to good progress in a number of areas, with contract wins in social care, health and local government. Idox Elections has been particularly noteworthy; we delivered services to all 32 Scottish councils in the recent local council elections, including print services, postal vote management and, for the second time, e-counting software. We also provided services to over 80 councils across England and Wales. We expect to be very busy in the forthcoming General Election providing additional revenues in the second half of the year. \n \nThe new digital services platform, enabled by recent acquisitions, is underpinning our public sector focus and investment for future growth. The platform was initiated with building regulation and planning applications, and is now offering over 30 citizen centric services.\n \nIdox Health traded in line with our acquisition expectations, with integration on track and good contract wins since acquisition; it has several cross selling opportunities in its pipeline for delivery in the remainder of the financial year....