Idox is a software business selling to UK public sector and global engineering clients.
Idox (IDOX)
Strong growth, again
The trading update for the half year ended 30 April is confident. First-half growth in revenues was over 20% year on year. The Emapsite acquisition has performed well. Cash generation has been impressive, with H1 net debt at c.£6.6m versus £14.7m at the FY23 year-end. The M&A pipeline is very healthy too. This strong performance is in line with management’s expectations, and the group expects to deliver to plan across the remainder of the year.
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