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Idox earnings to be lower than previously forecast

By BFN News | 09:14 AM | Wednesday 13 December, 2017


Idox expects full year earnings to be lower than the previous forecast and down on last year. The company said an internal review in preparation for the full year audit identified a small number of revenue items that should not be recognised in the = results. it said this was expected to reduce EBITDA for FY2017 to approximately £20m (compared to about £23m stated in the announcement of 14 Nov and £21.5m in 2016). It said these matters were identified internally and had been brought to the attention of the auditors by the company. It said clarification of these issues had been complicated by the sudden absence of chief executive Andrew Riley, due to illness. The company said non-executive director and former CEO Richard Kellett-Clarke had agreed to stand in as interim CEO pending Riley's return from sick leave. At 9:14am: (LON:IDOX) Idox Plc share price was -14.38p at 41.75p Story provided by StockMarketWire.com

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