AI appeal from AIM - music to an investor’s ears!
Reassuring interim results, expertise in AI and news of share buy-backs has lifted the shares of this popular (and now modestly valued) AIM company. Elsewhere, we also cover in-line results from a more highly valued software group and another upgrade for a value shore retailer. More on this and other news in our free update here.
Idox: in-line, but pricey?Idox (AIM: IDOX), the supplier of specialist information management software and solutions to the public sector, announced decent interim results with excellent cash flow. For the six months ending 30 April 2023 revenue rose 8% to £35.8m, of which the all-important recurring revenues increased by 7% to £21.2m, accounting for 59% of the total (H1 FY22: 60%). Operating profit increased by 16% to £4.9m (margin 13.6%), while statutory profit before tax was 13% higher at £4.1m. Adjusted diluted earnings per share from continuing operations increased by 10% to 1.33p. As usual, cash flow offers a better guide…