IDOX (LON:IDOX) – a very encouraging Trading Update
Last Tuesday Idox, the specialist information management software and solutions company announced its Trading Update for its year to end October.
Revenues were up 4% at £68m, while adjusted pre-tax profits were an impressive 35% ahead at £10.4m.
And what did I like best about this update? The fact that its recurring revenue was 5% better at £37.4m for the year, some 55% ARR.
I like this group and its prospects for increasing its business and its profitability.
The shares at 49.85p are looking quite firm, they are going higher, of that I have no doubt.
(Profile 30.04.20 @ 38.5p set a Target Price of 50p*)