IDOX plc (lon:idox)
Recovery Time?


ItemCurrent PeriodPrevious Period
YearN/A N/A
Adjusted Earnings
Adjusted EBITDA
Statutory Profit
Adjusted Profit
Total Debt
Net Debt
Title: Recovery Time?
Company: IDOX - IDOX plc
Share Price Then: 34.4p
Author: Ian Smith
Date: Tue 13 Feb 2018
Comments: On the 13th of Dec 2017 Idox announced

..the Company has identified a small number of revenue items that it does not consider should be recognised in the FY2017 results, which are expected to reduce EBITDA for FY2017 to approximately £20m (compared to about £23m stated in the announcement of 14 November…… Clarification of these issues has been complicated by the sudden absence of Andrew Riley, Idox's CEO, due to illness.

This spooked the market with the share price dropping from 55p to 27p, recovering to around 34p and an update on this seems likely soon as there is the AGM on the 28th of Feb.

If this is just a normal accounting SNAFU then this seems an overreaction and a return to normality would put the price back to 50p - 60p.

As a company Idox seems to have a lot solid customers in the public sector, this is a market that is tricky to break into and customers are slow to change suppliers, but is also not known for offering great new opportunities.

The group is surprisingly diverse which means either that the group is protected against a downturn in one sector, or that the group is not focusing enough in the areas that it operates, depending upon your beliefs.
Read Count: 152
Navigation & Details

Share Commentaries, their purpose.

Previous Commentaries On IDOX plc
There are no previous commentaries for this company.