The Idox Board has proposed a final dividend of 0.3p to be paid (2019: £Nil) for FY20 bringing the total for the year to 0.3p (2019: £Nil). The restoration of the dividend is in line with the Group's intention as stated in the FY19 results to introduce a final dividend in respect of FY20, taking into consideration the pace of recovery in business.
Other financial highlights include:
Revenue increased by 4% to £68.0m (2019: £65.5m).
Recurring revenue increased by 5% to £37.4m (2019: £35.7m).
Order book for contracted software and services up 31% to £15.9m (2019: £12.1m).
Adjusted EBITDA increased by 36% to £19.6m (2019: £14.4m). Adjusted EBITDA margin improved to 29% (2019: 22%).
Cash conversion of Adjusted EBITDA to net cash from operating activities improved to 109% (2019: 86%). Free cashflow of £11.2m (2019: £4.4m).
Adjusted EPS for continuing operations increased by 39% to 1.81p (2019: 1.30p).
Net debt at 31 October 2020 down 39% at £16.1m (2019: £26.4m).