Trading Statement & Notice of
iomart Group plc
("iomart" or the "Group")
Half Year Trading Statement and Notice of Results
iomart Group plc (AIM:IOM), the managed hosting and cloud computing services company, today provides the following update ahead of the publication of financial results for the six months ending 30 September 2010.
Trading Review
The Group continues to trade strongly, experiencing increasing demand for its products and services from existing and new customers during the first half of the financial year, and consequently expects to report interim results ahead of market expectations.
iomart hosting has continued to win a substantial number of contracts delivering Cloud managed services and complex hosting solutions. We are seeing an increasing adoption of cloud and virtualisation technologies alongside a growing trend to outsource critical infrastructure to companies like iomart who can deliver the service levels and skills to ensure maximum resilience, flexibility and cost effectiveness.
Easyspace has also continued to deliver solid results and generate cash during the period.
Outlook
We are encouraged by the growing pipeline of opportunities and expect that results for the full year will also be ahead of market expectations.
We are still in the early stages of this fundamental shift of services moving into the cloud and expect this market to grow significantly in the coming years. Having invested heavily in our infrastructure and skills we expect to reap the rewards of our strong position in the years ahead. We continue to pursue acquisition opportunities which would accelerate our growth as we bolt them on to our existing infrastructure.
Notice of Results
The interim results for the six months ended 30 September 2010 will be announced on 29 November 2010.
Angus McSween, CEO of iomart, commented:
"Our strong levels of trading are tangible evidence of the success of our cloud based hosting strategy. The investments we have made into our infrastructure have significantly improved our competitive positioning, enabling us to benefit from the growing momentum behind cloud computing.
"This growth in cloud computing is still in its early stages and we will continue to seek means of increasing our share of what is a highly fragmented market. With a proven reputation and a strong financial position we believe we are very well positioned to accelerate our growth both organically and through strategic acquisitions. We therefore enter the second half of the year with confidence, focused on the delivery of increasing shareholder value this year and in the years ahead."
For further information:
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iomart Group plc |
Tel. 0141 931 6400 |
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Angus MacSween, Chief Executive |
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Richard Logan, Finance Director |
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KBC Peel Hunt |
Tel. 020 7418 8900 |
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Richard Kauffer |
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Daniel Harris |
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Threadneedle Communications |
Tel. 020 7653 9850 |
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Caroline Evans-Jones |
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Tom Moriarty |
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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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