iomart triples organic revenue growth
19/05/04
Year end results reveal 236% increase in turnover
iomart Group plc (‘iomart’), the network security & internet hosting group, has today announced its preliminary results for the 12 months ended 31st March 2004.
Financial Highlights
> Turnover at £7,36m, up 236% on previous year, with annualised revenues now c. £12m
> Loss after tax and minority interest reduced to £0.66m (1.1p per share vs. 3.5p per share for 2002/3)
> Net cash outflow restricted to £1,02m after acquisitions and placing of 5.4m shares
> Cash balances of £3,02m on hand
Operational Highlights
> New Version (V4) of Netintelligence launched in an increasingly aware market
> Organic web services business growth continues - enhanced by acquisitions
> Successful acquisition and integration of both NicNames & Internetters
> 40,000 web services customers growing at c.1000 per month (7,000 at year end 31.03.03)
Prospects
> Netintelligence positioning endorsed by market though long corporate sales cycle
> Web services business profitability now established
> Planned reduction of share premium account to facilitate future dividend payments
Commenting on the results, Angus MacSween, CEO, stated ‘This year was the first full year that the group has traded without structural change, enabling our people to focus on growing and building our core business, and I think that their hard work and achievements have been reflected in these results.
“With our web hosting business performing strongly and our Netintelligence product attracting significant interest from the corporate world, we can look forward to another year of strong growth, building on last year’s second half performance”.
Angus Macsween - CEO
