Pre-close Trading Statement & Notice of Results
Date: 19 March 2012
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 managed hosting and cloud computing company, is pleased to provide its pre-close trading statement for the year ending 31 March 2012 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 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 £11 million (FY2011: £6.6 million) and adjusted(2) profit before tax of approximately £6.7 million (FY2011: £3.6 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.
Operating Segments
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. The segment also benefitted from the contribution of EQSN, the hosting business acquired at the end of November 2011. Excellent progress has been made on the integration of this operation.
The 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.
Acquisition strategy
Having successfully purchased and integrated Switch Media, EQSN and Global Gold during this financial year the Group continues to pursue additional opportunities for continued accelerated growth through acquisitions.
Notice of Results
The Board expects to report full year results for the year ending 31 March 2012 on Tuesday 29 May 2012.
Angus MacSween, CEO of iomart Group plc, stated:
"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."
(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.
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 Evans-Jones |
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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 managed hosting 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 network infrastructure, including five state-of-the-art data centres in the UK, 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.
Services offered include: Managed Hosting, Colocation, Complex Hosting solutions, Content Delivery Networks, IP Transit, Data Centre Services and Cloud Computing (Infrastructure as a Service).
For further information about the Group, please visit www.iomart.com
This information is provided by RNS
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