<< Back to Research archive

Published on: June 8, 2023

Long-term value generation becomes clearer

Idox has today reported a strong set of half-year results for the six months ended 30 April 2023. Revenue grew by 8% to £35.8m from £33.2m in H1 FY22 and adjusted EBITDA of £12.1m was 10% above H1 FY22’s figure. Recurring revenues grew broadly in line with the headline revenue figure, while the adjusted EBITDA margin was slightly ahead at 34% (H1 FY22: 33%). The half saw Idox move from net debt (FY22: £-6.7m) to net cash (H1 FY23: £1.1m). Order intake grew, with the overall figure of £52m being a 23% increase on H1 FY22. Against a backdrop of a building orderbook, and having delivered to expectations in the first half, management expects FY23 results to be in line with previous expectations.

Related Content