Idox Group Regulatory News (IDOX)

29 May 2012

IDOX plc

Trading update for the six months ended 30 April 2012

IDOX plc (AIM: IDOX, 'IDOX' or the 'Group'), a leading supplier of software and services, announces a trading update for the six months to 30 April 2012.

Both revenue and normalised profits are substantially ahead of the first half of 2011. Excluding acquisitions, Group revenues from operations in the public sector and the Engineering Information Management businesses delivered 10% organic growth. Including acquisitions, consolidated revenues increased by 58% over the comparable period last year.

The UK public sector business has expanded its prospect pipeline in managed and hosted services and continues to see organic revenue growth through new customer wins.

Revenue growth in the Engineering Information Management business has benefited from several landmark contracts across a range of sectors - with US electricity generator Southern Company in the utility sector, Occidental in Oil and Gas, and CH2M Hill in construction and engineering.

The integration of CTSpace, acquired in November 2011, is now complete with the full benefit of all changes to be realised by October 2012. Opt2vote, acquired in March, will be fully integrated by the end of July, having successfully completed the first Scottish electronic local government elections in May. Currency Connect, the grants advisory business acquired post period-end in May, has already changed its name to Innovation Connect and merged with IDOX's existing operations in Holland.

IDOX has embarked on a recruitment programme to hire new graduates across the Group in order to add additional resourcing to the company's drive for product innovation.

The Group expects to announce its interim results on 26 June 2012.

Richard Kellett-Clarke, Chief Executive Officer, said:

"All core parts of the Group have shown growth under the new management structure. More importantly, all have met their goals for the implementation of hosted services, efficiencies and the development of innovative ideas.

"The acquisitions made are allowing us to leverage better our core technology skills in large scale document and information management and collaboration solutions into new industries and territories, providing the Group with additional revenue streams in the UK and internationally. We continue to look to extend our capabilities into new business areas via acquisition opportunities and organically."

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About IDOX plc

IDOX plc is a supplier of specialist document management collaboration solutions and services to the UK public sector and increasingly to highly regulated asset intensive industries around the world in the wider corporate sector.

Its public sector software and service division is the leading applications provider to UK local government for core functions relating to land, people and property, such as its market leading planning systems and election management software. Over 90% of UK local authorities are now customers.

The Group provides public sector organisations with tools to manage information and knowledge, documents and content, business processes and workflow as well as connecting directly with the citizen via the web.

These capabilities were extended via the acquisition of McLaren Software in 2010 and CTSpace in 2011 into the related area of engineering document management and control applications, to form its engineering information division. This serves many leading companies in industries such as oil & gas, mining, utilities, pharmaceuticals and transportation around the world.

IDOX also supplies decision support content such as grants and planning policy information as well as related specialist services via the IDOX Information Solutions business. In addition, it provides knowledge and content management skills to customers through its TFPL branded recruitment division.

The company employs over 400 staff located in the UK, the USA, Europe, India and Australia.

For more information see www.idoxplc.com