Last checked at 30 Sep 2015 07:00
30 September 2015
iomart Group plc
("iomart" or the "Group")
Pre-close Trading Update
iomart Group plc (AIM:IOM), the cloud computing company, is pleased to provide its pre-close trading statement for the six months ending 30 September 2015 ahead of the announcement of its half yearly results.
Group trading performance
The Board is pleased to report that the business has continued to perform strongly in the first half of the financial year. Trading in the six months ending 30 September 2015 has been in line with management expectations, with both revenue and profits expected to be materially ahead of the comparative period last year.
SystemsUp Limited, a cloud consulting business to the public sector, which was acquired in June 2015 has strengthened the Group's Public Cloud strategy, bringing in consulting experience and stronger relationships with Public Cloud vendors.
The Group continues to seek further strategic acquisitions, having secured a substantial additional funding package in July from Bank of Scotland to bring the total bank facility to £60m.
Demand for the Group's services remains strong as iomart continues to differentiate its offering in the market with its own datacentres, focus on the SME and mid-market, and a consultative sales approach. Private Cloud adoption continues to grow and iomart has an expanding capability here. A hybrid approach to cloud is increasingly the norm for enterprises and there is a clear market role for companies such as iomart to help manage the complex transformation to the cloud. These strong market drivers with future growth underpinned by existing and new clients leave the Board confident in the outlook for the full year and optimistic for continued success.
Angus MacSween, CEO of iomart Group plc, commented:
"We are very pleased with the way the business has performed in the period and the Board is highly confident in the future. The Group is well positioned to sustain its competitive advantage within the hybrid cloud market with its strong customer base and growing expertise in private cloud. With an outstanding track record and an established reputation as the UK's leading cloud computing company, we believe the prospects for iomart continue to be excellent."
For further information:
iomart Group plc | Tel: 0141 931 6400 |
Angus MacSween, Chief Executive | |
Richard Logan, Finance Director | |
Peel Hunt LLP (Nominated Adviser and Broker) | Tel: 020 7418 8900 |
Richard Kauffer | |
Euan Brown | |
Newgate | Tel: 020 7653 9850 |
Adam Lloyd | |
Bob Huxford | |
Robyn McConnachie | |
Ed Treadwell |
About iomart Group plc
Award winning cloud company iomart Group PLC (AIM:IOM) enables businesses and organisations to operate their online data and IT environments safely and securely. Headquartered in Glasgow, Scotland, iomart partners with leading vendors such as VMware, Amazon, EMC, Microsoft, Asigra, Arbor and Dell to offer customers a centrally managed, controlled and completely agnostic set of hybrid, private and public cloud platforms. By owning a global network and datacentre infrastructure, iomart can support any customer who wishes to move seamlessly between any and all of these platforms with a consultative level of knowledge and expertise, delivering cloud services to meet exact business needs. For more information visit www.iomart.com