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UK – IDOX refrains from giving guidance

28 February 2013

Software and recruitment supplier IDOX (AIM: IDOX) is hosting its annual general meeting today with chairman Martin Brooks expected to refrain from offering full-year guidance due to “global economic uncertainty.”  

The firm last year made revenue of £57.9 million, helped by a number of acquisitions.  

Mr Brooks will tell shareholders today that the firm will continue to focus on its core software divisions to deliver better visibility.

 “In Public Sector software there has been a steady continuing progression of new business from software vendor consolidations by local authorities, further increasing our market share. This is expected to result in further growth in the first half and an increased order book of contracted services to be delivered in the second half,” according to Mr Brooks.

“In Engineering Information Management software, there has been a quieter start in license sales compared to last year as there are no global contracts currently planned to be signed in the first half. However, the business outlook has improved with a stronger pipeline through the continued investment in our sales team's global reach. Current customer intentions indicate a greater weighting of new license and services business in the second half, compared to 2012.”

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