1st October 2018
iomart Group plc
("iomart" or the "Group" or the "Company")
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 2018, ahead of the announcement of its half yearly results.
Group trading performance
The Group has continued to perform strongly in the first half of the financial year. Trading in the six months ending 30 September 2018 has been in line with management expectations, with both revenue and trading profits expected to be well ahead of the comparative period last year, including the contribution from the acquisitions made in the previous financial year.
The choices for businesses considering a move to the cloud are ever more complex and the Group has the skills, network and infrastructure to provide solutions across the whole cloud spectrum, including private, hybrid and public cloud. This leaves us well positioned to take advantage of these opportunities and we have continued to win good levels of new business from both new and existing customers in the period. The reorganisation of our sales and marketing team and structure was successfully completed in the period and we are confident that we will see these efforts starting to filter through into the sales pipeline for the second half and beyond.
Many industries and sectors are only now at the start of the journey to the cloud, which means that the market opportunity remains strong and varied. Through our continued investments into the business and successful acquisition of complementary skills and customer bases, we are increasingly well positioned to take advantage of the opportunity and the Board is confident in the outlook for the full year and beyond.
Angus MacSween, CEO of iomart Group plc, commented:
"iomart's continued strong trading performance is a reflection of the strength of our cloud capabilities and business model, the breadth of our customer base and the ongoing growth of the cloud market. With a significant and sustainable market opportunity ahead of us, a growing sales pipeline and high levels of revenue visibility, we look to the second half of the year and beyond with confidence."
For further information:
iomart Group plc
Tel: 0141 931 6400
Angus MacSween, Chief Executive
Scott Cunningham, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker)
Tel: 020 7418 8900
Tel: 020 8004 4218
About iomart Group plc
iomart Group Plc (AIM: IOM) helps organisations maximise the flexibility, cost effectiveness and security of the cloud. From strategy to delivery, our 300+ consultants and solutions architects provide the cloud expertise to transform your business. With a dynamic range of managed cloud services that integrate with the public clouds of AWS and Azure, our agnostic approach delivers solutions tailored to your exact needs. iomart is a long term supplier to G-Cloud and our infrastructure and cloud and backup services are designed to meet the requirements of the UK public sector.
For further information about the Group, please visit www.iomart.com
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