Iomart Group PLC Trading Statement (3142J)
March 29 2018 - 1:00AM
UK Regulatory
TIDMIOM
RNS Number : 3142J
Iomart Group PLC
29 March 2018
Date: 29 March 2018
On behalf of: iomart Group plc ("iomart" or the "Group")
Embargoed until: 0700hrs
iomart Group plc
Pre-close Trading Statement
iomart Group plc (AIM:IOM), the cloud computing company, is
pleased to provide its pre-close trading statement for the year
ending 31 March 2018 ahead of the announcement of its full year
results.
Group Trading Performance
The Board is pleased to report that iomart expects to deliver
another strong set of results delivering good growth in both
revenue and profit.
For the year to 31 March 2018, the Group expects to show revenue
growth of approximately 9%, adjusted EBITDA(1) of approximately
GBP39.8 million (FY2017: GBP36.6 million) and adjusted(2) profit
before tax of approximately GBP23.9 million (FY2017: GBP22.4
million) all in line with market consensus expectations.
Given the sustainable nature of the market opportunity, a
broadening product offering and a growing reputation within the
cloud industry, the Board anticipates that growth will continue in
the future.
Operations
The Cloud Services segment has continued to win a substantial
amount of new business over the year, benefiting from the growing
adoption of cloud services by organisations that need a strong
partner with the necessary infrastructure, skills and experience to
provide the certainty, scalability and flexibility they
require.
Cloud Services also benefitted from the full year contribution
of Cristie Data which was acquired in August 2016 and from the
contribution of Dediserve, Simple Servers and Sonassi since their
acquisition in May 2017, July 2017 and November 2017 respectively.
These acquisitions not only bring additional long-term customers
into the Group but also have expanded our geographical reach and
increased our expertise within high growth areas of the market,
such as ecommerce retailing.
The choices for businesses considering a move to the cloud are
ever more complex and iomart's ability to provide consultancy and
services across the whole cloud spectrum, including public, private
and hybrid cloud, leaves us well positioned for future growth.
Easyspace, the segment that provides a range of services to
small and micro businesses, has performed well, in line with
expectations, having continued the organic revenue growth
re-established in the prior year.
Notice of Results
The Group expects to report its results for the year to 31 March
2018 on Tuesday 12 June 2018.
Angus MacSween, CEO of iomart Group plc, stated:
"iomart has delivered yet another year of consistent growth.
With a significant and sustainable market opportunity ahead of us,
we continue to invest in our business and people to ensure we are
well positioned for future growth. We continue to see strong demand
for our services and remain confident in our prospects. Our healthy
balance sheet, high levels of revenue visibility and our strong and
increasing cash conversion leaves us in good financial health."
(1) adjusted EBITDA means earnings before interest, tax,
depreciation, amortisation, share based payment charges, gains or
losses on revaluation of contingent consideration, acquisition
related costs and non-recurring items.
(2) adjusted profit before tax means profits before, tax, share
based payment charges, amortisation of acquired intangibles, gains
or losses on revaluation of contingent consideration, acquisition
related costs, non-recurring items, mark to market adjustments in
respect of interest swap arrangements and interest charges on
contingent consideration.
For further information:
iomart Group plc Tel: 0141 931 6400
Angus MacSween
Richard Logan
Peel Hunt LLP Tel: 020 7418 8900
(Nominated Adviser
and Broker)
Ed Knight
Nick Prowting
Alma PR Tel: 020 8004 4218
(Financial PR)
Caroline Forde
Helena Bogle
About iomart Group plc
iomart Group PLC (AIM: IOM) helps organisations maximise the
flexibility, cost effectiveness and security of the cloud. From
strategy to delivery, our 300+ consultants and solutions architects
provide the cloud expertise to transform your business. With a
dynamic range of managed cloud services that integrate with the
hyper clouds of AWS and Azure, our agnostic approach delivers
solutions tailored to your specific requirements. iomart is a long
term supplier to G-Cloud and our infrastructure and cloud and
backup services are designed to meet the requirements of the UK
public sector. To find out more about our managed cloud services
visit www.iomart.com For our cloud consultancy visit
www.systemsup.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTSEUFMAFASEDD
(END) Dow Jones Newswires
March 29, 2018 02:00 ET (06:00 GMT)
Iomart (LSE:IOM)
Historical Stock Chart
From Apr 2024 to May 2024
Iomart (LSE:IOM)
Historical Stock Chart
From May 2023 to May 2024