Profits at iomart Group plc Rise by 618%By Iomart Group Plc, PRNE
Tuesday, May 31, 2011
LONDON, June 1, 2011 -
- Rise in Cloud and Hosting Customers Boosts iomart's Annual Results
iomart Group plc (www.iomart.com/ ) (AIM:IOM), the managed hosting
and cloud computing services company, has today (June 1 2011) announced a
very healthy 618% rise in profit before tax to the London Stock Exchange.
The company's financial results for the year ended 31 March 2011 showed
profit before tax rose to GBP2.8m (2010:GBP0.4m, before gain reduction in
deferred consideration of GBP09m). iomart Group's revenue also showed a big
increase, up 38% to GBP25.3m from GBP18.3m in the previous financial year.
The majority of growth announced by the Glasgow-headquartered company
came from its hosting operations which generated revenue of GBP17.7m, a rise
of 61% from GBP11.0m in 2010. This figure includes revenues from the
acquisition in November 2010 of Titan Internet for GBP4.2m, however even
taking into account this purchase, hosting revenue still jumped by 47% with
many customers looking specifically for cloud-based and enterprise hosting
Angus MacSween, CEO of iomart Group plc, said: "Cloud computing has
become something of a buzz word with many companies adding the 'cloud' tag to
everything they do without backing it up with reliable delivery mechanisms.
At iomart we have built our technologies from the ground up specifically to
be delivered via the cloud. As a result we are becoming recognised as an
authority on the provision of cloud-hosting solutions and are well positioned
to take advantage as the market evolves and people look for reliable
iomart Hosting won 400 new orders during the year, many of which were
additional orders from existing customers. Increasingly these orders include
some aspect of cloud or virtual computing in the overall solution.
Angus MacSween continued: "With more and more businesses looking to the
cloud for their data solutions we believe we have positioned ourselves well
to take advantage of this market moving forward. We are in a market that is
growing and that is here to stay and we fully expect to participate strongly
in that growth."
The adjusted EBIDTA* for iomart Group plc was GBP6.6m, a high level of
growth, showing an improvement of 113% (2010:GBP3.1m). Again the adjusted
EBIDTA for the hosting side of the business also showed an increase of 124%
to GBP6.2m from GBP2.8m in 2010.
iomart Group plc owns five data centres around the UK and has continued
to invest in its data centre infrastructure by fitting a further 7,000square
feet of space in its Maidenhead data centre during the year.
Note: * In this release adjusted EBITDA for March 2011 is earnings before
interest, tax, depreciation and amortisation (EBIDTA) before share based
payment charges and acquisition related costs and for March 2010 is EBIDTA
before share based payment charges and net gain on reduction of deferred
Notes for editors:
About iomart Group plc:
iomart Group plc (AIM:IOM) is one of the UK's leading providers of
managed hosting and cloud computing services. From a single server through to
private cloud networks, iomart specialises in the delivery and management of
mission-critical hosting services, enabling customers to reduce the costs,
complexity and risks associated with maintaining their own web and online
By physically owning and managing its own global network infrastructure,
iomart offers world-beating levels of service to its customers. The Group
offers a unique 100% uptime guarantee with all hosting services being
engineered to ensure no single point of failure.
iomart Group operates in its chosen markets through a number of
subsidiaries: iomart Hosting, RapidSwitch, Titan Internet, Easyspace and
Westcoastcloud. The group has been listed on the London Stock Exchange's
Alternative Investment Market (AIM) since April 2000.
For more information about iomart Group plc visit www.iomart.com
News release issued by Jane Robertson, Head of PR for iomart Group plc.
For more information please email jane.robertson at iomart.com or call
+44(0)141-931-6474 (dir), +44(0)141-931-6400 or +44(0)7827948993 (mob).
Tags: Iomart Group Plc, June 1, London, United Kingdom