Record results from the social entertainers
Dispelling the gloom from the banking sector, results and updates from AIM covered in our free update here were extremely positive
Idox: trading in-line Idox (AIM: IDOX), the supplier of specialist information management software and solutions to the public and asset-intensive sectors, confirmed that it was trading in line with expectations. Trading at approx. 23x ‘heavily adjusted’ forecast earnings for the year to October 2023, the rating looks about right to us on that simple measure. By its definition (which may differ from others) Idox has a lower proportion of recurring revenue (61% in 2022) than other software groups. Return on equity has also been a somewhat derisory as has free cash flow. However, things have been improving and a buyer…