(Alliance News) - Idox PLC on Wednesday said it recorded a full-year rise in order intake and reported a decent start to the new financial year, backing expectations.
The information management software supplier said its order intake for the year that ended October 31 climbed 19% to GBP74 million.
Revenue is expected to have risen by around 6% to GBP66 million from GBP62.2 million. Net debt was reduced to GBP6.7million from GBP8.1 million.
The Reading, England-based firm added it has started its new financial year with a strong level of recurring revenue and contract renewals, alongside a "solid order book and a healthy pipeline".
It kept annual expectations unchanged, but said it is mindful of the current economic climate.
"We have seen significant success in areas of strategic focus, notably with Idox Cloud where we have seen 15 new sales during the period, which bodes well for our future performance. The integration of recent acquisitions into the Group has progressed well and we have made several adjustments to our operating business, building capacity for future growth," said Chief Executive Officer David Meaden.
Idox said it expects to report its final financial 2022 results in late January.
Shares in Idox fell by 0.2% to 60.60 pence in London on Wednesday afternoon.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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Idox Group (IDOX)