Updates

Idox - Disposal of loss-making arm

January 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

ldox has sold its lossmaking Digital business for a nominal amount. The business focused on providing digital consultancy services to private sector clients and made a £2.9m loss on sales of £6.4m. On a continuing basis, Idox expects to report sales of £67.2m for the year ending 31 October with an annualised recurring revenue run rate of £32.4m. After reducing its cost base by £1.7m during the year to £44m, adjusted ebitda was £14.4m. Net debt at the period end was £31.2m. With high recurring income on the residual business, there is finally some light at the end of the tunnel. Speculative buy. ...

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