Growth in Cloud Doubles iomart Group Pre-tax Profits
Poster: SySAdmin
Posted on November 29, 2011 at 4:00:02 AM
Growth in Cloud Doubles iomart Group Pre-tax Profits
GLASGOW, Scotland, November 29, 2011/PRNewswire-FirstCall/ --
Half Year Results Show Rise in Revenue and Pre-tax Profit for Cloud
Computing Company
iomart Group plc (AIM:IOM), the cloud computing and managed hosting services company,
has reported a rise in both revenue and pre-tax profits in its half yearly results.
The Group announced a 36% growth in revenue to GBP15.4m (H1 2011: GBP11.4m) and an
increase of 106% in pre-tax profits to GBP2.4m (H1 2011: GBP1.2m), in its consolidated
half yearly results for the period ended 30 September 2011.
Angus MacSween, CEO of iomart Group plc, said: "The market opportunities available to
us continue to grow as more and more organisations take advantage of the benefits of
outsourcing their IT infrastructure needs to a strong and trusted supplier such as iomart.
We continue to expand our skills, product sets and infrastructure to deliver an increasing
range of cloud services [http://www.iomarthosting.com/cloud-hosting ] and expect to
continue the growth we have recently enjoyed."
Adjusted EBITDA(1) showed growth of 85% to GBP5.0m (H1 GBP2.7m) with basic earnings
per share more than doubling to 2.23p, a rise of 112% (H1 2011: 1.05p). Cashflow from
operations was GBP4.1m (H1 2011: GBP3.1m) while net cash at the end of period was GBP3.5m
(H1 2011: GBP5.3m).
The continuing growth in the uptake of cloud services has contributed to iomart's
continuing success. Among the companies that have moved into the cloud with iomart this
year are Skyscanner [http://www.iomarthosting.com/info-centre/case-studies ] and Nova
International.
Angus MacSween continued: "We are continuing to deliver on our strategy of focusing on
managed hosting and the growing demand for complex hosting in the cloud. Revenues are
strong and we continue to make acquisitions as well as growing organically."
iomart Group has made three acquisitions in the past 12 months, including the addition
of a premium customer base through the purchase of Scottish infrastructure service
provider EQSN for GBP2.5m last week.
iomart Group plc is Scottish Digital IT Company of the Year 2011 and is ranked as one
of the top 25 cloud services providers in the world by Talkin' Cloud 50.
1 Adjusted EBITDA means earnings before interest, tax, depreciation, amortisation
charges, share based payment charges, acquisition related costs and non-recurring
acquisition integration costs.
Notes for editors:
About iomart Group plc:
iomart Group plc (AIM:IOM) is one of the UK's leading providers of managed hosting and
cloud computing 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 global network infrastructure, 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.
iomart Group operates in its chosen markets through a number of subsidiaries: iomart
Hosting, RapidSwitch, Titan Internet, Easyspace and Westcoastcloud. The group has been
listed on the London Stock Exchange's Alternative Investment Market (AIM) since April
2000.
For more information about iomart Group plc visit http://www.iomart.com
News release issued by Jane Robertson, Head of PR for iomart Group plc. For more
information please email jane.robertson@iomart.com or call +44(0)141-931-6474 (dir),
+44(0)141-931-6400 or +44(0)7827948993 (mob).
Source: iomart Group plc
.
GLASGOW, Scotland, November 29, 2011/PRNewswire-FirstCall/ --
Half Year Results Show Rise in Revenue and Pre-tax Profit for Cloud
Computing Company
iomart Group plc (AIM:IOM), the cloud computing and managed hosting services company,
has reported a rise in both revenue and pre-tax profits in its half yearly results.
The Group announced a 36% growth in revenue to GBP15.4m (H1 2011: GBP11.4m) and an
increase of 106% in pre-tax profits to GBP2.4m (H1 2011: GBP1.2m), in its consolidated
half yearly results for the period ended 30 September 2011.
Angus MacSween, CEO of iomart Group plc, said: "The market opportunities available to
us continue to grow as more and more organisations take advantage of the benefits of
outsourcing their IT infrastructure needs to a strong and trusted supplier such as iomart.
We continue to expand our skills, product sets and infrastructure to deliver an increasing
range of cloud services [http://www.iomarthosting.com/cloud-hosting ] and expect to
continue the growth we have recently enjoyed."
Adjusted EBITDA(1) showed growth of 85% to GBP5.0m (H1 GBP2.7m) with basic earnings
per share more than doubling to 2.23p, a rise of 112% (H1 2011: 1.05p). Cashflow from
operations was GBP4.1m (H1 2011: GBP3.1m) while net cash at the end of period was GBP3.5m
(H1 2011: GBP5.3m).
The continuing growth in the uptake of cloud services has contributed to iomart's
continuing success. Among the companies that have moved into the cloud with iomart this
year are Skyscanner [http://www.iomarthosting.com/info-centre/case-studies ] and Nova
International.
Angus MacSween continued: "We are continuing to deliver on our strategy of focusing on
managed hosting and the growing demand for complex hosting in the cloud. Revenues are
strong and we continue to make acquisitions as well as growing organically."
iomart Group has made three acquisitions in the past 12 months, including the addition
of a premium customer base through the purchase of Scottish infrastructure service
provider EQSN for GBP2.5m last week.
iomart Group plc is Scottish Digital IT Company of the Year 2011 and is ranked as one
of the top 25 cloud services providers in the world by Talkin' Cloud 50.
1 Adjusted EBITDA means earnings before interest, tax, depreciation, amortisation
charges, share based payment charges, acquisition related costs and non-recurring
acquisition integration costs.
Notes for editors:
About iomart Group plc:
iomart Group plc (AIM:IOM) is one of the UK's leading providers of managed hosting and
cloud computing 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 global network infrastructure, 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.
iomart Group operates in its chosen markets through a number of subsidiaries: iomart
Hosting, RapidSwitch, Titan Internet, Easyspace and Westcoastcloud. The group has been
listed on the London Stock Exchange's Alternative Investment Market (AIM) since April
2000.
For more information about iomart Group plc visit http://www.iomart.com
News release issued by Jane Robertson, Head of PR for iomart Group plc. For more
information please email jane.robertson@iomart.com or call +44(0)141-931-6474 (dir),
+44(0)141-931-6400 or +44(0)7827948993 (mob).
Source: iomart Group plc
.