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Idox's earnings

By BFN News | 07:22 AM | Wednesday 16 December, 2015

Idox revenues rose 3% to GBP62.6m in the year to the end of October with adjusted EBITDA up 11% at GBP18.2m. Adjusted EBITDA margins improved to 29.1% (2014: 27.0%) and adjusted profit before tax was £14.5m up 14% (2014: £12.7m). Profit before tax was 29% higher at £9.8m (2014: £7.6m) and adjusted EPS rose 17% to 3.28p. Net debt as at 31 October 2015 stood at £23.1m (31 October 2014 £15.8m; £10.6m cost of the two acquisitions in the second half of the financial year). The proposed final dividend of 0.525p (2014: 0.425p) takes the total to 0.85p (2014: 0.75p), an increase of 13% for the financial year Chief executive Richard Kellett-Clarke said: "Idox has achieved results in line with market expectations with improved margins due to well controlled costs and realisation of synergies across the Group. The Group continued to benefit from its diversified business model and sources of earnings which helped mitigate challenges in some of our markets. "Overall, the outlook for Idox in the coming years is very encouraging. Interesting opportunities are opening up in our core markets and internationally through recent acquisitions. With the enhanced team and closer operational integration, the business is in a strong position and we are looking forward to a successful year ahead." Story provided by

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