Idox

Despite reporting higher revenue, strong cash flow and stable margins in its recent semi-annual results, Idox’s stock price has barely budged because its full-year earnings forecast was “conservative”. Two-thirds of revenue is generated from its Land, Property, and Public Protection (LPPP) arm, which provides software to local governments. Half-year LPPP revenue grew 3% and recurring revenue rose 12% thanks to a major contract with Vodafone. The overall group’s recurring revenue rose 9%. Idox’s ...