iomart Group PLC (AIM:IOM) enables businesses and organisations to operate their online data and IT environments safely and securely.
Headquartered in Glasgow, Scotland, iomart partners with leading vendors such as VMware, Amazon, EMC, Microsoft, Asigra, Arbor and Dell to offer customers a centrally managed, controlled and completely agnostic set of hybrid, private and public cloud platforms.
By owning a global network and datacentre infrastructure, iomart can support any customer who wishes to move seamlessly between any and all of these platforms with a consultative level of knowledge and expertise, delivering cloud services to meet exact business needs.
Their website is available at www.iomart.com
Trading Update iomart Group plc (AIM:IOM), the cloud computing company, today provides a trading update for the six months ended …
AIM-listed cloud computing company iomart Group plc has today released it’s year end results for the 12 month period ending …
AIM-listed cloud computing company iomart Group plc has acquired Extrinsica Global Holdings for an initial £4m in cash and shares, …
On behalf of Reece Donovan, CEO & Scott Cunningham, CFO of iomart Group (AIM: IOM), we are delighted to invite …
Cloud computing firm iomart Group has announced that its full-year financial results, for the full year ending 31 March, will …
Pre-close Trading Update and Notice of Results Positive close to the year provides solid basis for FY24 iomart Group plc …
| P&L | 31 March 2022 £~000 | 31 March 2022 £~000 |
|---|---|---|
| Gross Revenue | 115,638 | 103,018 |
| Cost of Sales | (52,080) | (41,712) |
| Gross Profit | 63,558 | 61,306 |
| Profit before tax | 8,502 | 12,168 |
| Total dividend for the year | 5.44p/ share | 6.02p/ share |
| Balance Sheet | 31 March 2022 £~000 | 31 March 2022 £~000 |
|---|---|---|
| Cash & cash equivalents | 13,818 | 15,332 |
| Total assets | 218,676 | 208,337 |
| Total liabilities | (98,120) | (89,446) |
| Net assets | 120,556 | 118,891 |
Investors Chronicle (Jun 2023):“Iomart’s cash generation comes cheap”
“iomart Group (US:IOM) is currently switching its focus from self-managed infrastructure to cloud managed services; the problem with this shift is that self-managed infrastructure (SMI) is higher margin: in that business, as the name implies, customers are responsible for upkeep, which means fewer costs for Iomart.”
Directors
Angus MacSween – 15.46%
Lucy Dimes – 0.55%
Scott Cunningham – 0.12%
Karyn Lamont – 0.01%
Other
Liontrust Asset Management – 13.42%
Gresham House – 12.78%
Lombard Odier – 11.04%
Octopus Investments – 10.55%
Investec Wealth – 5.55%
Rathbones – 5.42%
Tellworth Investments – 4.88%
Canaccord – 3.45%
Noble Grossart – 1.66%
Cavendish (Oct 2023): Trading on track
After a steady set of prelims in June, which demonstrated cost control and a focus on extending growth and capabilities, the trading update continues to deliver the focus on growth. The group has delivered 18% revenue growth to £62.0m (1H23: £52.6m), including £6.5m from the latest two acquisitions, representing 48% of our unchanged forecasts; and EBITDA of £18.5m, which grew 4% in line with margin pressure evident since 2H23, also delivered 48% of expectations. Net debt, expressed by the company inclusive of IFRS16 gross liabilities, accommodated £9.7m of deferred consideration and acquisition payments and £3.6m of dividend payments, settling at £49m (FY23: £39.8m), which we estimate to be c£29.8m of bank net debt in peer group context – equivalent to 0.8x net debt/EBITDA (0.9x when using EBITDA less lease payments) and allowing plenty of headroom for further acquisitions. Extrinsica was acquired in June, adding Microsoft Azure capabilities that extend the TAM of opportunities open to the group, and we would be unsurprised by the addition of further acquisitions in Microsoft and/or cyber expertise. The group has a £100m debt facility to 2026. iomart’s refreshed and embedded sales team remains focused on looking up, with downgrades now a thing of the past (the last was October 2022), and the opportunity in recurring revenue and growth is attractive. T
