Idox has reported H1 2017A results in line with the May trading update. The three recent acquisitions were the key drivers of 19% revenue growth, with adjusted EBITDA 2% ahead of H1 2016A. Cash conversion remained robust, with cash generated from operating activities at 116% of adjusted EBITDA. The key Public Sector Software (“PSS”) business continues to report solid operational momentum. We make minor revisions to estimates following the announcement, and note the positive outlook statement and 10% DPS growth as further signs of management confidence.
06 Jun 2017
In line interims
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
In line interims
Idox plc (IDOX:LON) | 64.0 0 0.0% | Mkt Cap: 294.0m
- Published:
06 Jun 2017 -
Author:
Blaine Tatum -
Pages:
4
Idox has reported H1 2017A results in line with the May trading update. The three recent acquisitions were the key drivers of 19% revenue growth, with adjusted EBITDA 2% ahead of H1 2016A. Cash conversion remained robust, with cash generated from operating activities at 116% of adjusted EBITDA. The key Public Sector Software (“PSS”) business continues to report solid operational momentum. We make minor revisions to estimates following the announcement, and note the positive outlook statement and 10% DPS growth as further signs of management confidence.