iomart Group: Interim Results Webinar
On behalf of recently appointed CEO Lucy Dimes & Scott Cunningham, CFO of iomart Group (AIM: IOM), we are delighted to invite you to a webinar following the publication of the Group’s Interim Results.
The session will be on: Wednesday 6th December @ 12:30pm
If you would like to join the session, please email firstname.lastname@example.org
In a Trading Update, announced on 11th October, the Group reported:
“The Board anticipates reporting revenue growth of approximately 18% for the six months to £62.0m (H1 FY22: £52.6m), with adjusted EBITDA up 4% at approximately £18.5m (H1 FY22: £17.8m). Given the bank interest rate increases since last year, the adjusted profit before tax is expected to see a more modest increase, to approximately £7.5m (H1 FY22: £7.4m).
The Group’s cash generation from trading continues to be strong and consistent with past performance. Net debt increased, as expected, to approximately £49.0m at 30 September 2023 (31 March 2023: £39.8m) following the acquisition on 31 May 2023 of Extrinsica Global Limited, the Microsoft Azure Cloud solutions provider, plus the £4.0m earn-out payment associated with the August 2022 Concepta Capital Limited acquisition.
The positive trading performance is a reflection of the strength of the Group’s cloud capabilities and business model, the breadth of its customer base and the ongoing growth of the cloud market. The recent acquisitions have enhanced the Group’s routes to market and depth of skills, improving the customer proposition to ensure iomart and its customers can take full advantage of the broader hybrid cloud market opportunity. The Board remains confident in the outlook for the long-term prospects for the Group.”