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Idox PLC on Thursday said first-half profit grew on a revenue increase driven partly by order intake and project delivery. Idox is a Reading, England-based supplier of information management software for public and ‘asset intensive’ sectors. The company said pretax profit for the first six months ended April 30 rose 14% to £4.1 million, from £3.6 million a year prior, as revenue rose 7.8% to £35.8 million from £33.2 million. The company noted that revenue in its Idox Cloud division jumped by 40% as order intake grew by 28% amid new customers such as Conwy County Borough Council, Blaenau Gwent County Borough Council and Harrow Council. Revenue in its Exegesis business was up 19% due to the delivery of projects. Idox declared no interim dividend, but said it intends to pay a final dividend in line with company policy. Looking ahead, Idox said its full year performance is expected to be in line with board expectations. Back in March, the company said it was ‘well-placed to grow by double digits’ in financial 2023, but did not specify whether this referred to profit or revenue or both. Shares in Idox were up 0.3% at 66.61 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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