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Quiet board, boring sector perhaps? I took a look at the financials via FT.com and they are not great (net income falling) but reflect the fact that the business has purchased smaller businesses to grow.
Debt is not too bad, debt to capital ratio 32% down from a year ago.
My concern, the UK is in a recession (imo) and I wonder how many IOM customers will fail over the next few years?
I am also confused. I got in 8am on the result day after the positive RNS at around 121p so sold today around 164p with a decent profit. I do think this has legs, its a strong well run business so good luck to you all!
Bid on the way I reckon
Still going. Finals due 13th June, so that's not imminent besides which the pre close trading statement 3 weeks ago had little eff3ect on the share price. Volumes not especially big. I'm pleased, but I'm confused.
Something interesting is afoot!
Maybe some news due out. Otherwise it’s just on breaking above resistance level and a cup and handle play in motion.
Can snyone explain the big rise in the last couple of days?
Pushing on as I expected glad with the top up @ 118 plenty to go for here , could easily see an approach at these bargain levels..
Make that 1.5 bars traded, over hanging seller deffo getting cleared
Decent volume today almost a bar traded and just off depressed lows…I’ve topped up @ 118 and expect a decent bounce on the way.
Since a low of 110p earlier this month a good 10% move up on the half year results 6th Dec with buying like £75K @ 122p today. Every hosting business will have the same energy inflation pressures.
· Results in line with the pre-close trading update published in early October 2022
· Revenue grew 1% YoY, with the Group continuing to benefit from very strong levels of recurring revenues (94%1 of Group revenues)
· Concepta acquisition, completed on 15 August 2022, provided £1.3m of revenue and a small positive profit contribution in the final 6 weeks of the period and is performing well
· Stronger customer retention levels in the period provides an improved backdrop as we see pipeline growth from our wider product offering
· Reduction in adjusted EBITDA2 and adjusted profit before tax3 reflects the revenue mix and higher staff costs in the period necessary to retain the skills and capabilities that are important for our growth strategy
· Profitability margins, as expected, reflect the changes in revenue mix and the inflationary environment with adjusted EBITDA margin and adjusted profit before tax margin at 33.8% (H1 2022: 37.7%) and 14.1% (H1 2022: 17.5%), respectively
· Cash conversion ratio6 of 81% is lower than prior period (H1 2022: 91%) due to the specific timing of some vendor payments overlapping period ends, it remains at 95% on a 12-month basis
· Period end net debt of £47.8m, comfortable at 1.3 times annualised EBITDA5
· 12-month extension option within the existing £100m revolving bank facility taking expiry to 30 June 2026 agreed post period end, underpinning the Group's five-year growth strategy
I began reading it and felt a warm glow - the words were very positive - then I started seeing numbers & knew the market reaction would be negative. Turnover may be (but only just) but profits are down. (Sales = vanity, profit = sanity.) And the immediate outlook looks like rising costs and reduced margins. I have to give credit to the board - managing to sound so positive on such difficult numbers.
The good thing is the level of customer retention and let us hope they can get a few more long term customers on board and keep them too.
Ex dividend day tomorrow.
New high today. Hopefully it will now break out of the current channel and move to the next resistance level of around 216p.
New high created. Slowly ticking up nicely.
Cheers Troajan.
Looking strong here with the drop from the dividend being bought into and the 20ema crossing the 50ema. Just need 180 to be broken and the sp should rise to the next resistance at 220. Even if the share does continue it’s downward trend, it’s still close to the bottom of the trend with £3 being the top. So plenty of room still to move higher.
Did some dummy buys and sells today. Can sell £5k easily but can only buy less than £1k without it going to NT which suggests there are more buyers than sellers around. Ex-dividend day tomorrow.
This market is consolidating nicely, IOM have access to great cash flows, have raised money at a very sensible price and have some good market offerings that will no doubt be innovated.
They themselves will be an acquisition target in 3 years once they deliver upon their ambition to be a £200m T/O company.
This is a strong buy and will happily tick back up to 300p, paying dividends upon the way.
What's not to like?
Another strong day today. This share is re-rating. Next major resistance at 180p area then 215p. The share also bounced of the bottom of the daily and weekly trend channel. If it can get to the top of the trend channel it will be about 320p, the brokers TP.
Ok I respect your knowledge but this company cash flows are so strong, its everything an acquiring company looks for
I don't understand why you label it a weak sell can you tell me your reasoning?
MS is not going to acquire iomart. MS will likely partner with them for things like datacentre space, ahead of building their own facilities if the market they are interested in is deemed too small to build a large facility. I have some insight in the requirements MS have for things like datacentre space, even in small markets (Manchester for example) they will build 50+ racks for 1 project, high density. At MS scale you do that 2-3 times in 1 city and then it may become attractive to build your own facility if other large operators, such as equinix, have limited capacity.
MS "partners" with every MSP.
Microsoft are loving date centres its the future (well present)
They're already in the ballgame they may as well acquire smaller players in the market
IOMART are a great company even though the Market Cap doesn't reflect that
Could probably buy IOMART at a big discount also
Happy with this too.
fincapp have released a long broker report maintaining their 325p target. They have reduced capex by £5m.