GLASGOW, Scotland, March 19, 2012 /PRNewswire/ --
CEO Angus MacSween says iomart Group plc remains confident of future growth
iomart Group plc (AIM:IOM), one of the UK's leading providers of cloud computing and managed hosting services, has issued its pre-close trading statement for the year ending 31 March 2012 ahead of the announcement of its full year results.
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 GBP11 million (FY2011: GBP6.6 million) and adjusted(2) profit before tax of approximately GBP6.7 million (FY2011: GBP3.6 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.
Angus MacSween, CEO of iomart Group plc, said: "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."
iomart's leading business hosting brand 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.
iomart Hosting has also benefitted from the integration of EQSN, the Glasgow-based hosting business acquired at the end of November 2011.
iomart's 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. Easyspace was recently chosen as a UK delivery partner for Google's GetMo scheme which will provide UK businesses the tools to build websites for mobile phones.
iomart Group plc continues to pursue additional opportunities for continued accelerated growth through acquisitions.
The Board expects to report full year results for the year ending 31 March 2012 on Tuesday 29 May 2012.
iomart Group plc
SOURCE iomart Group plc