RNS Results19 Mar 2012 07:14
Seem good! AHEAD of expectations:
The Board is delighted to report that 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 £11 million (FY2011: £6.6 million) and adjusted(2) profit before tax of approximately £6.7 million (FY2011: £3.6 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, stated:
"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."
(1)adjusted EBITDA means earnings before interest, tax, depreciation, amortisation, share based payment charges acquisition related costs and non recurring acquisition integration costs.
(2)adjusted profit before tax means profits before, tax, share based payment charges, amortisation of acquired intangibles, acquisition related costs and non recurring acquisition integration costs.