IDOX to beat expectations in 2012

Software and services firm IDOX said it expects full year results to come in comfortably ahead of consensus market expectations for the full year.

Software and services firm IDOX said it expects full year results to come in comfortably ahead of consensus market expectations for the full year.

The firm said growth in both the public sector and engineering software divisions - and an active acquisition programme - had driven strong revenue and profits.

The company's public sector division benefitted from assisting local councils in achieving cost savings and is expected to perform better than forecast.

It is also enjoying organic growth at a higher level than anticipated due to the successful implementation of of IDOX's managed services and hosting products at UK councils.

On top of this, the group was helped by the award of a framework agreement by the Government Procurement Service for G-Cloud Services.

In engineering software, the firm was helped by new client wins, notably in North America, including two new contracts to provide 'SaaS' solutions within the oil and gas industry.

This means the division is expected to report performance ahead of management's expectations and deliver stronger than anticipated organic growth, the firm said.

"We continue to develop new and innovative methods to drive productivity within the Public Sector, a market which is now focused on managing costs and efficiency," said Chief Executive Richard Kellett-Clarke.

IDOX shares were 8% by 10:15 on Monday following the announcement.

Recommended

A new legal headache for Haleon
Stocks and shares

A new legal headache for Haleon

Haleon, GSK’s former consumer-products arm, spun off last month, has made a dismal debut on the stockmarket.
17 Aug 2022
Persimmon yields 12.3%, but can you trust it to deliver?
Share tips

Persimmon yields 12.3%, but can you trust it to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
17 Aug 2022
Cineworld faces a bleak future – investors should stay away
Share tips

Cineworld faces a bleak future – investors should stay away

Weighed down by crippling debts and with consumers tightening their belts, Cineworld's future does not look bright, says Rupert Hargreaves. Investors …
17 Aug 2022
Britain’s ten most-hated shares – w/e 12 August
Stocks and shares

Britain’s ten most-hated shares – w/e 12 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
16 Aug 2022

Most Popular

Don’t listen to the doom-mongers – the future is bright
Economy

Don’t listen to the doom-mongers – the future is bright

With volatile markets, raging inflation and industrial unrest, it may feel like things are bad and likely to get worse. But the end of the world is no…
15 Aug 2022
Investors should get ready for a political revolution
UK Economy

Investors should get ready for a political revolution

Liz Truss will beat Rishi Sunak, cut taxes, and then shake up the Bank of England, says Helen Thomas
15 Aug 2022
How solar panels could lower your energy bill
Energy

How solar panels could lower your energy bill

Solar-panel installation firms are reporting a four-fold increase in orders this year compared with 2021. Ruth Jackson-Kirby explains how solar can he…
14 Aug 2022