IDOX’s encouraging outlook

An update from acquisitive public sector-focused software & services supplier IDOX, shows an encouraging outlook for the rest of 2011. IDOX said it has had an “excellent first half” (the six months to 30 April 2011), thanks to its UK public sector and global engineering document control business, which helped contribute to “very significant growth” in revenue and normalised profits. IDOX has been busy snapping up rival companies in recent months such as LalPac (which completed in May), as well as Grantfinder and McLaren (see Local government supplier? Watch out, IDOX is about!), so there must be lots of inorganic growth here. Nonetheless, new business sales from IDOX's core local authority business continue to be encouraging. And having paid off its loan 12 months early, it is now scouting further acquisition opportunities both in the UK and internationally. So rather than suffering from the UK public sector cut backs, IDOX is if anything profiting from them.