Iomart shares rise as revenue jumps, cites "robust" order bookings

(Alliance News) - Iomart Group PLC on Thursday noted ongoing positive order bookings as revenue surged in the first financial half.

The Glasgow, Scotland-based cloud computing and IT-managed services provider said revenue jumped 25% to GBP77.7 million in the six months to September 30, from GBP62.0 million a year ago.

Revenue in the most recent half-year includes GBP21.7 million from the Atech acquisition, which completed in October 2024.

Further, it anticipates to post an adjusted pretax loss of GBP2.3 million, compared to an adjusted pretax profit of GBP4.3 million a year ago. This reflected lower adjusted earnings before interest, tax, depreciation and amortisation, and an around GBP2.0 million higher interest expenses due to the funding of the Atech acquisition, among others.

Iomart said: "Order bookings have remained robust, consistent with the higher levels achieved last year and customer renewal rates have improved resulting in consistently positive net order bookings, supporting the Board's expectation for a stronger performance in the second half. Approximately 30% of group revenue now originates from Microsoft-connected activities, up from around 7% two years ago, demonstrating the increasing relevance of our skills and capabilities to customers in this high demand space and the positive evolution of the group."

Iomart expects to publish half-year results on November 26.

Iomart shares closed 13% higher at 24.50 pence each on Thursday in London.

By Tom Budszus, Alliance News slot editor

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