Idox confidence swells after half-year profit boost

(Alliance News) - Idox PLC on Thursday noted "positive momentum" as profit rose in the first half of financial 2025.

The Woking, Surrey-based software company focuses on government services, such as election management.

It posted pretax profit of GBP5.3 million for the six months that ended April 30, up 15% from GBP4.6 million a year before, as revenue increased by 4.4% to GBP45.0 million from GBP43.1 million.

Adjusted earnings before interest, taxation, depreciation and amortisation were GBP13.9 million, up 6.1% from GBP13.1 million in 2024, lifting the Ebitda margin to 31% from 30%.

Diluted earnings per share were 30% higher at 0.92 pence compared to 0.71 pence the year prior.

The firm swung to a net cash position of GBP200,000 at April 30 from net debt of GBP6.6 million on-year.

Idox reported "record first-half order intake" of GBP58.7 million, up 8.5% from GBP54.1 million. The company expects this to offer increasing revenue visibility going into financial 2026. The firm pointed to contracts with local UK councils, the UK Ministry of Housing, and telecommunications provider Vodafone Group PLC.

Shortly after the half-year end, Idox acquired health and social care software company Plianz Ltd, for an initial enterprise value of GBP7.65 million. The company said the pipeline for further mergers and acquisitions remains "healthy".

Idox pays no interim dividend, only a final dividend, which was 0.7 pence per share last year.

Chief Executive David Meaden said the company is "in its strongest position ever".

"Idox has delivered a good financial performance in the first half of 2025 in line with the board's expectations, with increased total revenue, recurring revenue, profitability and cash generation," Meaden said.

Idox shares were 0.1% lower at 59.74 pence each on Thursday morning in London.

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