Directorate Change and Trading Update
Summary by AI BETAClose X
11 February 2026
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
iomart Group plc
("iomart" or the "Group" or the "Company")
Directorate Change and Trading Update
Directorate Change
iomart Group plc (AIM: IOM), the secure cloud services company, announces that Scott Cunningham, Chief Financial Officer, has notified the Board of his intention to step down from his role to take up a new opportunity in a private company outside of the IT sector. To ensure a smooth transition, Scott will continue in his role and work closely with Richard Last, Executive Chair, and the wider leadership team through the completion of the March year‑end reporting cycle. It is expected that Scott will leave the Board and the Company in June 2026.
Scott has served iomart with dedication for over seven years, playing a significant leadership role across the Group's financial, operational and strategic development. The Board would like to express its thanks to Scott for his contribution during a period of considerable organisational evolution and transformation. The process to appoint Scott's successor will commence immediately.
Richard Last, Executive Chair of iomart Group plc, commented: "On behalf of the Board and the wider iomart team, I wish to thank Scott for his significant commitment and contribution to iomart over the last seven years and wish him every success in his new role."
Trading Performance
The Group experienced a softening in trading during December and January, including an increase in customer churn compared to the earlier part of the financial year, particularly in certain high margin areas. Growth, albeit lower than expected, has been achieved in Azure, security and Microsoft 365 where margins are traditionally lower.
Net order bookings are expected to be positive for the financial year, and the sales pipeline is encouraging.
The Group continues its cost optimisation and efficiency program, with annualised savings of over £5.0m now having been achieved. We continue to pursue further efficiency opportunities which will generate further profit benefits, operational efficiencies and service quality improvements.
Overall, for the year to 31 March 2026, the Board now expects Group revenue to be broadly in line with, and EBITDA to be just below, the lower end of current market expectations.
Cash performance and capital expenditure discipline remain strong, and the Group continues to operate within its current bank facilities.
Note: Company compiled range is based on known sell-side analyst estimates. The latest known sell-side analyst estimates for the full year ended 31 March 2026 are:
· Revenue in the range of £157.6m to £159.1m;
· Adjusted EBITDA(1) in the range of £27.7m to £28.5m; and
· Adjusted loss before tax (2 in the range of £(2.1)m to £(1.0)m
· Net Debt in the range of £98m to £107m
(1)adjusted EBITDA means earnings before interest, tax, depreciation, amortisation, share based payment charges, forex gains or losses on long term cash flow hedges, acquisition related costs and non-recurring items.
(2)adjusted loss before tax means profits before, tax, share based payment charges, amortisation of acquired intangibles, forex gains or losses on long term cash flow hedges, acquisition related costs and non-recurring items.
The person responsible for releasing this announcement on behalf of the Company is Richard Last, Executive Chair.
For further information:
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iomart Group plc |
Tel: 0141 931 6400 |
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Richard Last, Executive Chair |
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Investec Bank PLC (Nominated Adviser and Broker) |
Tel: 020 7597 4000 |
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Patrick Robb, Virginia Bull |
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Alma Strategic Communications |
Tel: 020 3405 0205 |
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Caroline Forde, Hilary Buchanan, Louisa El-Ahwal |
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About iomart Group plc
Iomart Group plc (AIM: IOM) is one of the UK's leading providers of secure cloud managed services, simplifying the complexities of modern technology for businesses, with the majority of Group revenue derived from the UK. Our team of 600+ deliver cutting-edge solutions in cloud infrastructure, modern workplace management, and managed security services that enable our customers to innovate, protect, and scale their businesses.
We hold one of the UK's most extensive sets of Microsoft credentials, including Azure Expert MSP, Eight Solution Designations, 15 Advanced Specialisations including the new Copilot award and membership in Microsoft's Intelligent Security Association (MISA). As well as being a top-tier Broadcom Pinnacle Partner for VMware Cloud and Elite MSP Partner for Commvault. Which means we can bring the latest technologies in hybrid cloud, data protection, and cyber resiliency to meet the evolving needs of our customer
For further information about the Group, please visit www.iomart.com
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