FY13 results in line, solid foundations for future growth
IDOX has reported FY13 numbers which are in line with the guidance given in its November trading update. The Engineering Information Management (EIM) business was the predominant source of downgrades then, with additional weakness from the Solutions businesses, while the Public Sector Software (PSS) business enjoyed a particularly strong end to the year. IDOX conducted an internal review to identify areas in need of improvement and has taken action to bolster management capacity and to streamline and refocus the business structure (including the absorption of Solutions into PSS). The outlook statement is optimistic and highlights a number of positive operational changes.