Pre-close Trading Statement and Notice of Results
Date: 26 March 2014
On behalf of: iomart Group plc ("iomart" or the "Group")
Embargoed until: 0700hrs
iomart Group plc
Pre-close Trading Statement and Notice of Results
iomart Group plc (AIM:IOM), the cloud computing company, is pleased to provide its pre-close trading statement for the year ending 31 March 2014 ahead of the announcement of its full year results.
Group Trading Performance
The Board is delighted to report that iomart has achieved a very strong set of results.
For the year to 31 March 2014, the Group expects to show adjusted EBITDA(1) of approximately £23.6 million (FY2013: £16.4 million) and adjusted(2) profit before tax of around £14.5 million (FY2013: £10.6 million) both slightly ahead of market consensus expectations.
Over the period, the Group has delivered strong organic growth combined with good performances from its acquired businesses, and the Board anticipates these dual drivers of growth continuing in the future.
Operations
The Hosting segment has continued to win a substantial amount of new business over the year, as the Group continues to benefit from the growing adoption of cloud services by organisations that need a strong partner with the necessary infrastructure to provide the certainty, scalability and flexibility they are looking for. Hosting also benefitted from the contribution of Redstation, and Backup Technology, the cloud backup business, both of which were acquired in September 2013. Both businesses have been successfully integrated into the Group.
Easyspace has performed in line with expectations over the year.
Notice of Results
The Group expects to report its full year results for the year ending 31 March 2014 on Wednesday 28 May 2014.
Angus MacSween, CEO of iomart Group plc, stated:
"iomart has enjoyed another year of good organic growth, buoyed further by our recent acquisitions. There is no doubt that we are seeing a long term shift towards a cloud dominated technology landscape, and we are well positioned to take advantage of that."
(1)adjusted EBITDA means earnings before interest, tax, depreciation, amortisation, share based payment charges, and acquisition related costs.
(2)adjusted profit before tax means profits before, tax, share based payment charges, amortisation of acquired intangibles, acquisition related costs, mark to market adjustments in respect of interest swap arrangements and the accelerated write off of arrangement fees on the bank borrowing facility which was repaid early in the period.
For further information:
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iomart Group plc |
Tel: 0141 931 6400 |
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Angus MacSween |
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Richard Logan |
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Peel Hunt LLP (Nominated Adviser and Broker) |
Tel: 020 7418 8900
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Richard Kauffer Daniel Harris |
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Newgate Threadneedle |
Tel: 020 7653 9850 |
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Caroline Forde |
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Hilary Millar |
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About iomart Group plc
iomart Group is one of the UK's leading providers of cloud and managed hosting, specialising 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.
iomart owns and manages data centres at eight locations across the UK as well as its own dedicated high speed fibre network. The Group offers a unique 100% business uptime guarantee with all hosting services being engineered to ensure no single point of failure.
iomart operates through a number of subsidiaries: iomart Hosting, Backup Technology, Melbourne Server Hosting, RapidSwitch, Redstation, Easyspace and iomartcloud. Services offered include: Cloud Computing (Infrastructure as a Service), Managed Hosting, Colocation, Content Delivery Networks, IP Transit, Data Centre Services.
iomart has been listed on the London Stock Exchange's Alternative Investment Market (AIM) since April 2000. For further information about the Group, please visit www.iomart.com
This information is provided by RNS
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