we remain very confident of further growth in the next financial year and beyond.
iomart Group plc (AIM:IOM), one of the UK’s leading providers of cloud computing and managed hosting services, has issued its pre-close trading statement for the year ending 31 March 2012 ahead of the announcement of its full year results.
iomart has achieved a very strong set of results across both its operating segments, ahead of market consensus. For the year to 31 March 2012, the Group expects to show an adjusted EBITDA(1) of not less than GBP11 million (FY2011: GBP6.6 million) and adjusted(2) profit before tax of approximately GBP6.7 million (FY2011: GBP3.6 million).
The Group has delivered strong organic growth as well as good performances from the acquired businesses and the Board sees continued organic and acquisitive expansion prospects for iomart going forward.
Angus MacSween, CEO of iomart Group plc, said: "iomart continues to benefit from a compelling mix of recurring revenues, sticky customers, good forward visibility and a leading competitive position. As a result we remain very confident of further growth in the next financial year and beyond."
iomart’s leading business hosting brand iomart Hosting, has continued to win a substantial number of contracts over the year, as the Group continues to benefit from the growing requirement for CIOs and CTOs to examine the resilience of their IT solutions and platforms resulting in companies outsourcing more elements of their IT infrastructure to proven third party providers like iomart.
Among the companies that have chosen iomart Hosting to move their IT services into the ‘Cloud’ in the past year are: UK Government office supplies provider office2office; Misys, the global market leader delivering application software and services for banking, treasury and capital markets; and Edinburgh-based Skyscanner, one of Europe’s leading cheap flight search engines.
iomart Hosting has also benefitted from the integration of EQSN, the Glasgow-based hosting business acquired at the end of November 2011.
iomart’s Easyspace division also delivered an improved performance in terms of both profitability and cash generation, in part as a result of the successful integration of the acquisitions of Switch Media and Global Gold Holdings. Easyspace was recently chosen as a UK delivery partner for Google’s GetMo scheme which will provide UK businesses the tools to build websites for mobile phones.
Having successfully purchased and integrated Switch Media, EQSN and Global Gold during this financial year iomart Group plc continues to pursue additional opportunities for continued accelerated growth through acquisitions.
The Board expects to report full year results for the year ending 31 March 2012 on Tuesday 29 May 2012.
iomart Group plc was named Scottish Digital IT Company of the Year 2011.
(1) adjusted EBITDA means earnings before interest, tax, depreciation, amortisation, share based payment charges acquisition related costs and non recurring acquisition integration costs.
(2) adjusted profit before tax means profits before, tax, share based payment charges, amortisation of acquired intangibles, acquisition related costs and non recurring acquisition integration costs.
News release issued by Jane Robertson, Head of PR for iomart Group plc. For more information please email email@example.com or call 0141 931 6474 (dir), 0141 931 6400 or 07827948993 (mob).
Notes for editors:
About iomart Group plc:
iomart Group plc (AIM:IOM) is one of the UK’s leading providers of managed hosting and cloud computing services. From a single server through to private cloud networks, iomart specialises in the delivery and management of mission-critical hosting services, enabling customers to reduce the costs, complexity and risks associated with maintaining their own web and online applications.
By physically owning and managing its own global network infrastructure, iomart offers world-beating levels of service to its customers. The Group offers a unique 100% uptime guarantee with all hosting services being engineered to ensure no single point of failure.
iomart Group operates in its chosen markets through a number of subsidiaries: iomart Hosting, RapidSwitch, Easyspace, EQSN and Westcoastcloud. The group has been listed on the London Stock Exchange's Alternative Investment Market (AIM) since April 2000. For more information about iomart Group plc visit www.iomart.com
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