Pre-close trading update
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 2017, ahead of the announcement of its half yearly results.
Group trading performance
The Board is pleased to report that the business has continued to perform well in the first half of the financial year, with trading in the six months ending 30 September 2017 in line with management expectations. The business remains firmly on track to deliver another year of material growth.
The Group has seen strong demand for its services as enterprises continue to move their services into the cloud. With our wide range of cloud products, services and consultancy offerings covering private, public and hybrid cloud solutions, iomart is ideally placed to advise these enterprises on the best solution to fit their needs and then to implement the chosen solution.
In May 2017 we acquired, Dediserve, expanding the geographical reach of our cloud operation. The business has performed well since acquisition, in line with management expectations.
Maiden interim dividend
At the end of our last financial year we revised our dividend policy due to our robust cash generation and low level of gearing. As a result, we increased our final dividend for that year by 90% to 6p per share. We now intend to introduce an interim dividend payment in this financial year and further details of this will be given with the publication of our half year results.
The market opportunity remains strong and we are well positioned to take advantage of it. The Board is confident in the outlook for the full year and optimistic for continued success.
Angus MacSween, CEO of iomart Group plc, commented:
“The Group has performed strongly in the period as we consolidate our competitive advantage within the hybrid cloud market. There is growing demand from enterprises moving their services into the cloud and our reputation as the UK’s leading cloud computing company means we are ideally placed to service this demand.”