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ldox swings to profit amid transition to cloud-based technologies

By BFN News | 10:01 AM | Monday 25 November, 2019

ldox swung to an annual profit and said revenue visibility had improved as the management solutions and services company continued its transition to cloud-based technologies. For the year ended 31 October 2019, the company reported a pre-tax profit of £0.3m, compared with a loss of £27.0m on-year, while revenue fell to £66.0m from £67.4m. Revenue visibility had significantly improved, however, with the annualised recurring revenue run rate at up 20% to £38.9m. The acquisition of Tascomi completed in August 2019, enhanced the group's technological capabilities and market positions as well as building the recurring SaaS revenue profile, Idox said. 'Tascomi is being integrated into the Group and is performing to plan,' it added. At 10:01am: (LON:IDOX) Idox Plc share price was +0.25p at 35.05p Story provided by

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