18 May 2011 – trading update

IDOX, which supplies software and IT services to the UK public sector and major corporates, has revealed that both revenue and adjusted profits for the six months to 30 April have risen significantly over the previous year.  The growth has been helped by acquisitions although sales to the core local authority business continue to be strong.  The group has repaid its term loan 12 months early and after funding all the recent acquisitions it is now in a net cash position again. Interim results are due on 14 June but even after the strong rise in the shares over recent months they remain GOOD VALUE.