REG - IDOX PLC - AGM Trading update

IdoxAnnouncement

28/03/2024 07:00

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RNS Number : 5857I  IDOX PLC  28 March 2024

28 March 2024

Idox plc

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

AGM Trading update

Good momentum continues in the current financial year

Idox plc (AIM: IDOX), a leading supplier of specialist information management
software and geospatial data solutions to the public and asset-intensive
sectors, is pleased to issue a trading update for the period from 1 November
2023 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 and we remain confident about the outlook for the
year.

·      High levels of recurring revenue, contract renewals, orderbook
and pipeline provide good visibility, leaving Idox well placed to grow by
double digits in FY24.

·      With a strong foundation in property and asset-based solutions
and data services we continue to enhance and grow our capabilities across the
Group.

·      The integration of Emapsite (acquired August 2023) is progressing
well and in line with our expectations.

·      Idox has an attractive M&A pipeline with significant
financial resources for larger, accretive and enhancing acquisitions at
appropriate valuations.

A further trading update will be issued following the half year ending 30
April 2024.

David Meaden, Chief Executive Officer, said:

"We remain confident that Idox is well positioned for growth in FY24 and
beyond. The Group has made a good start to the year and continues to trade in
line with the Board's expectations.  Our focus on securing high quality
recurring revenue and repeatable services provides confidence in delivering
double digit growth in FY24. We have a healthy balance sheet and are confident
we can maximise the opportunities for profitable organic and inorganic growth
whilst remaining resilient to the current macro-economic challenges."

 For further information please contact:  +44 (0) 870 333 7101

 Idox plc
 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
 Adam Telling

 MHP                                      + 44 (0) 20 3128 8100
 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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