Idox Group Share News (IDOX)

Software providers for the public sector IDOX said it will pay a maiden interim dividend as tight control on costs means the group ends the first half with a strong cash position.The group also said first-half contracted order book is ahead of the Board's expectations.Its contracted work in progress, awaiting revenue recognition on delivery, has increased by £1.8m since the start of the financial year. Despite uncertainties in the wider economy, local authorities are continuing to invest in service improvements and internal efficiencies, prompting the group to maintain its expectations for the full year. "Our order book is ahead of expectations and we are delighted to be in a financially strong position allowing for a maiden interim dividend distribution to be made," said Martin Brooks."The business has done especially well in winning large open tenders from new authorities that faced the challenges of migrating and integrating data from their predecessors," he added.