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IDO pre-tax profits up 110%

By BFN News | 09:52 AM | Tuesday 07 June, 2016


Pre-tax profits at IDOX - a leading supplier of specialist information management solutions and services - rose by 110% to £6.5m in the six months to the end of April. Revenues rose 26% to £37.2m and adjusted EBITDA increased 42% to £10.1m with adjusted EBITDA margins improving to 27% (H1 2015: 24%). Adjusted profit before tax was 36% up at £7.9m (H1 2015: £5.8m) and the interim dividend of 0.35p per share is up 8%. Chief executive Richard Kellett-Clarke said: "The Group is pleased to report excellent progress in line with expectations and its strategy. Our strong growth reflected the success of focusing on supporting our customers to deliver efficiency in key areas of our domain expertise; this growth was derived from a combination of solid organic growth and a good contribution from Reading Room. "Following the strong first half performance, we have additional visibility of revenues from the European Referendum and a healthy pipeline and order book. These together with full year contributions from last year's acquisitions, means the Board is confident of at least meeting market expectations for the financial year as a whole." At 9:52am: (LON:IDOX) Idox Plc share price was +1.25p at 65.75p Story provided by StockMarketWire.com

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