iomart Group plc (AIM:IOM), the cloud computing company, is pleased to provide its pre-close trading statement for the year ending 31 March 2015 ahead of the announcement of its full year results.
Group Trading Performance
The Board is pleased to report that iomart expects to deliver another good set of results.
For the year to 31 March 2015, the Group expects to show adjusted EBITDA(1) of approximately £29.0 million (FY2014: £23.6 million) and adjusted(2) profit before tax of approximately £16.6 million (FY2014: £14.6 million) both in line with consensus market expectations.
Over the period, the Group has delivered solid organic growth combined with good performances from its acquired businesses, and the Board anticipates these dual drivers of growth continuing in future.
The Hosting segment has continued to win a substantial amount of new business over the year, as the Group continues to benefit from the growing adoption of cloud services by organisations that need a strong partner with the necessary infrastructure to provide the certainty, scalability and flexibility they are looking for. Hosting also benefited from the full year contribution of Redstation, and Backup Technology, the cloud backup business, both of which were acquired in September 2013 and ServerSpace which has contributed to the results since its acquisition in December 2014.
Easyspace has also performed in line with expectations over the year.
Angus MacSween, CEO of iomart Group plc, stated:
“iomart has delivered another solid year of growth. The long term opportunity remains very real and iomart is well positioned to take advantage of growth in the Cloud.”
(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, non-recurring acquisition integration costs, mark to market adjustments in respect of interest swap arrangements and in the comparative period the accelerated write off of arrangement fees on the bank borrowing facility which was repaid early in the prior period.
For further information:
iomart Group plc Tel: 0141 931 6400
Peel Hunt LLP
(Nominated Adviser and Broker) Tel: 020 7418 8900
Ed Treadwell Tel: 020 7653 9850