iomart Group plc (AIM:IOM), the cloud computing and managed hosting services company, is pleased to report its consolidated half yearly results for the period ended 30 September 2011.
• Revenue growth of 36% to £15.4m (H1 2011: £11.4m)
• Adjusted EBITDA1 growth of 85% to £5.0m (H1 2011: £2.7m)
• Profit before tax growth of 106% to £2.4m (H1 2011: £1.2m)
• Basic earnings per share from operations increased by 112% to 2.23p (H1 2011: 1.05p)
• Cashflow from operations of £4.1m (H1 2011: £3.1m)
• Net cash at end of period of £3.5m (H1 2011: £5.3m)
• Acquisition of Switch Media Group for maximum of £1.2m in April 2011
• Acquisition of EQSN Limited for maximum of £2.5m in November 2011
• Titan server estate migrated into Group data centres eliminating third party datacentre costs
• Continuing rationalisation programme for previously acquired businesses
1 Adjusted EBITDA means earnings before interest, tax, depreciation, amortisation charges, share based payment charges, acquisition related costs and non recurring acquisition integration costs
Angus MacSween, CEO commented:
“The market opportunities available to us continue to grow as more and more organisations take advantage of the benefits of outsourcing their infrastructure needs to a strong and trusted supplier such as iomart. We continue to expand our skills, product sets and infrastructure to deliver an increasing range of cloud services and expect to continue the growth we have recently enjoyed.”
iomart Group plc Tel: 0141 931 6400
Peel Hunt LLP
(Nominated Adviser and Broker) Tel: 020 7418 8900
Threadneedle Communications Limited Tel: 020 7653 9850
About iomart Group plc
iomart Group 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 applications.
By physically owning and managing its own network infrastructure, including five state-of-the-art data centres in the UK, 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.
Services offered include: Managed Hosting, Colocation, Complex Hosting solutions, Content Delivery Networks, IP Transit, Data Centre Services and Cloud Computing