May 30, 2012 – (HOSTSEARCH.COM) – UK company
iomart Group PLC has announced their annual results for the last financial year with profits up by a resounding 68%.
Today’s announcement has seen the managed hosting services provider secure a net profit of £11.2m compared to the previous annum which saw them make £6.6m.
CEO of iomart, Angus MacSween commented on the increased revenue from the year, saying: “This is another great set of results and shows that we continue to consolidate our position within the large, highly fragmented and growing UK cloud hosting market.
“We are investing in both storage infrastructure and in our network connectivity to maintain our leading position and offer premium levels of service to customers.”
With iomart hosting ever increasing its revenue in the market, the last four years have seen a five-fold increase since March 2009 which had secured £4.6m.
This year the revenue has risen by 33% to £33.5M, this can be attributed to the 600 new orders and additional orders from existing customers. The recurring revenue levels are now around 95%.
Along with securing the new orders, the Group has also bought three hosting companies, Switch Media, EQSN and Global Gold.
MacSween added: “Since the end of the financial year, trading has been encouraging. All three acquisitions have been fully integrated and we have the financial firepower to do more. We would expect to make at least another two or three acquisitions in the next 12 months.”
The announced profits have topped off a good year for the company following the award of Scottish PLC of the Year and Fastest growing cloud service providers in the world from Talkin’ Cloud.
Ian Ritchie, Chairman of iomart Group PLC, spoke of the success in 2012 and looking forward to the future, “With the high level of revenue visibility we enjoy, we have begun the 2013 financial year in a strong position. I look forward to another exciting year of growth.”
Financial Highlights up to March 2012
- Revenue growth of 33% to £33.5m (2011: £25.3m)
- Adjusted EBITDA1 growth of 68% to £11.2m (2011: £6.6m)
- Adjusted profit before tax2 growth of 91% to £6.9m (2011: £3.6m) benefitting strongly from operational leverage
- Adjusted basic earnings per share3 from operations increased by 96% to 6.99p (2011: 3.56p)
- Cash flow from operations growth of 36% to £9.6m (2011: £7.1m)
- Adjusted EBITDA1 margins increased to 33% (2011: 26%)
- Proposed final dividend increased by 38% to 0.90p per share (2011: 0.65p per share)
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 applications.
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, Easyspace, EQSN and Westcoastcloud. The group has been listed on the London Stock Exchange's Alternative Investment Market (AIM) since April 2000.
