Updates

Idox - Current year off to a superb start

June 2020

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.

After stumbling last year, IDOX looks like a buy once more. The company supplies software solutions to the central and local government sectors and has reported that H1 20 will see sales of £35.1m, an increase of 13% (10% organic). Adjusted EBITDA was £9.6m, an increase of 138%. Net debt is down from £25.4m to £14.3m, so a net debt to EBITDA ratio of 0.7. The EBITDA margin has doubled to 27%. Idox has not needed to furlough staff as a large number of employees have already been working remotely for a number of years. As an example of what the group can do - in just a week it has built an online booking system for the NHS in a bid to streamline and accelerate COVID-19 testing for frontl ...

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Renew - Renewal and maintenance work not badly interrupted by COVID

Dart Group

Idox (September 2023)

Idox (November 2022)

Idox (November 2021)

Idox - Looks like start of eps upgrade cycle (July 2021)

IDOX (April 2021)

IDOX (April 2020)

Idox - Disposal of loss-making arm (January 2019)

Idox (May 2018)

Idox (January 2018)

Idox - First acquisition under Riley (September 2017)

Idox (July 2017)

Idox - To benefit from General Election (June 2017)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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