RNS states Idox completes another aquisition, no placings with this company, purchased out of profits, this company also pays a dividend, Investec target for february was 68p, this now is very attainable with the news this morning, the aquired compnay will be adding income and profit from day 1, a very strong company with great outlook, I have added ths morning and will look back end of summer,
28 Feb '13
Apologies the previous header was automatically taken from the last time I wrote about IDOX
28 Feb '13
IDOX up strongly
Drops nearly 10% on AGM statement with comments: "In Public Sector software there has been a steady continuing progression of new business from software vendor consolidations by local authorities, further increasing our market share. This is expected to result in further growth in the first half and an increased order book of contracted services to be delivered in the second half." "In Engineering Information Management software, there has been a quieter start in license sales compared to last year, as there are no global contracts currently planned to be signed in the first half. However, the business outlook has improved with a stronger pipeline through the continued investment in our sales team's global reach. Current customer intentions indicate a greater weighting of new license and services business in the second half, compared to 2012." All sounds reasonably positive to me but market a bit disappointed by final bit: "As is usual, and in a further year of global economic uncertainty, the board considers it too early to provide full year guidance." Perhaps a buying opportunity!
A specialist document and workflow management software supplier, IDOX (IDOX) provides large public sector organisations with the tools to manage information, documents and business processes, as well as helping connect councils with their citizens via the web. A focus on local government efficiency underpins the £188 million cap's prospects but its cleverly managed expansion into commercial markets should provide additional upside, as the London-based firm carves out growth opportunities in the engineering, oil and gas, utilities and even pharmaceuticals industries. Full-year figures for the 12-month period to end October (12 December) showed a 16% increase in public sector sales to £30.2 million, 52% of total revenue compared to 68% in 2011. In the commercial sector, the engineering information management and information solutions arms grew revenues by 31% and 59% to £17.8 million and £7.5 million respectively, partly thanks to acquisitions. Broker finnCap predicts 3.9p of earnings per share (EPS) this year rising to 4.5p in the year to October 2014, but these forecasts could look conservative. Some 57% of revenues are recurring and adding a strong pipeline of new business to this should lead to double-digit organic growth. That makes the current year price/earnings (PE) multiple of 13.6 look good value for a long-term growth play.
4 Feb '13
IDOX: Investec revises target price from 60p to 68p and stays with its buy recommendation.
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