IDOX PLC AGM Trading Update (9216T)

TIDMIDOX

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                                           [phone] 
 Chris Stone, Non-Executive Chairman     [e-mail] 
  David Meaden, Chief Executive 
  Anoop Kang, Chief Financial Officer 
 Peel Hunt LLP (NOMAD and Broker)                   [phone] 
 Paul Gillam 
  Michael Burke 
  James Smith 
 MHP Communications                                + 44 (0) 20 3128 8170 
 Reg Hoare                                             [e-mail] 
  Ollie Hoare 
  Matthew Taylor 
 

About Idox plc

For more information see www.idoxplc.com @Idoxgroup

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTBRGDXCDDDGXD

(END) Dow Jones Newswires

March 23, 2023 03:00 ET (07:00 GMT)