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IDOX Plc (IDOX:LSE), the supplier of information for knowledge management, products and services, today announces final results for the year ended 31 October 2009. IDOX owns TFPL whose services include the placement of permanent, interim management and contract personnel for a range of positions requiring information, knowledge, records and content management expertise in the UK and internationally.
Revenues were down to 32.2 million Pounds compared to 34 million Pounds in 2008. Pre-tax profit was down to 4.5 million Pounds compared to 6.6 million Pounds in 2008. Head count was reduced by 17% compared to 2008.
'Normalised' pre-tax profit excluding amortisation, impairment, share options, costs and exceptional charges was down to 6.7 million Pounds compared to 7.6 million Pounds in 2008.
Chairman, Martin Brooks, said "IDOX performed well in a difficult year and has laid strong foundations for the future. The 2010 financial year has begun positively. We are delivering on our substantial contracted order book, converting our large pipeline of prospects into sales and seeing signs of recovery in the Solutions and Permanent Recruitment businesses."
"With tighter public spending expected after the General Election, we continue to believe local authorities will increasingly look to IDOX to provide rapid returns on the IT investments they must make to reduce costs and improve services in the longer term."
In early trading IDOX's shares were down by 4.26% to 11.25 Pence