REG - IDOX PLC - AGM Trading Update

IdoxAnnouncement

23/03/2023 07:15

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RNS Number : 9216T  IDOX PLC  23 March 2023

23 March 2023

Idox plc

('Idox' or the 'Group' or the 'Company')

AGM Trading update

Positive start to new financial year

Idox plc (AIM: IDOX), a leading supplier of specialist information management
software and solutions to the public and asset-intensive sectors, is pleased
to issue a trading update for the period 1 November 2022 to date, ahead of
today's Annual General Meeting.

Highlights during the period include:

·      Operational and financial performance continue to be in line with
the Board's expectations.

·      Operating under a new divisional structure of Land, Property and
Public Protection, Communities and Assets, the Group continues to make
encouraging organic progress in its chosen markets.

·      Recent developments regarding Silicon Valley Bank have had no
material impact on the Group.

·      High levels of recurring revenue, contract renewals, orderbook
and pipeline provide good visibility, and leave Idox well placed to grow by
double digits in FY23.

A further trading update will be issued following the half year ending 30
April 2023.

David Meaden, Chief Executive Officer, said:

"We remain confident that Idox is well positioned for growth in FY23 and
beyond. The Group has made an encouraging start to the year and continues to
trade in line with the Board's expectations. We have an attractive acquisition
pipeline and our high quality recurring revenue and order book, coupled with
our financial resources, will enable us to maximise the opportunities for
profitable growth whilst remaining resilient to the current macro-economic
challenges."

For further information please contact:

 

 Idox plc                              +44 (0) 870 333 7101
 Chris Stone, Non-Executive Chairman   investorrelations@idoxgroup.com

 David Meaden, Chief Executive

 Anoop Kang, Chief Financial Officer

 Peel Hunt LLP (NOMAD and Broker)      +44 (0) 20 7418 8900
 Paul Gillam

 Michael Burke

 James Smith

 MHP Communications                    + 44 (0) 20 3128 8170
 Reg Hoare                             idox@mhpgroup.com (mailto:idox@mhpgroup.com)

 Ollie Hoare

 Matthew Taylor

 

 

About Idox plc

For more information see www.idoxplc.com (http://www.idoxplc.com/) @Idoxgroup

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