IDOX – 49p

12 December 2012 – final results

The IT software and services group has announced final results for the year to 31 October showing revenues up by 50% to £58m (2011: £39m), whilst adjusted pre-tax profit increased by 36% to £14.8m (2011: £10.9m).  Earnings per share on the same basis were 55% higher at 3.83p (2011:2.47p) and the dividend for the year was raised by 13% to 0.675p (2011: 0.6p). 

During the year the group completed and integrated £24m of acquisitions, and this led to net debt at the year end of £21.5m (2011: £2.4m).  These are clearly excellent results and the group’s strategy of diversifying its revenues both geographically and between public/private sectors is progressing well.  Nevertheless, although the new financial year has started well, the shares have moved up strongly and no longer look such good value.  For readers sitting on large profits we would be tempted to take at least some of this – TAKE PROFITS.

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