British web host
iomart is expecting to meet its profit forecasts for the year ending March 2015. The company, which has headquarters in Glasgow, Scotland, offers a range of services, including cloud-based solutions such as bare metal clouds, managed clouds, hybrid clouds and private clouds. In addition the company offers business mail, hosted virtual desktop services, Office 365 options, and managed AWS and storage. Its profits are expected to increase by 13% to £16.6 million ($24.5 million) for the period. Adjusted annual earnings are expected to be £29 million ($42.9 million).
"The Board is pleased to report that iomart expects to deliver another good set of results. For the year to 31 March 2015, the Group expects to show adjusted EBITDA of approximately £29.0 million (FY2014: £23.6 million) and adjusted profit before tax of approximately £16.6 million (FY2014: £14.6 million) both in line with consensus market expectations. Over the period, the Group has delivered solid organic growth combined with good performances from its acquired businesses, and the Board anticipates these dual drivers of growth continuing in future", explained Chief Executive Officer Angus MacSween on the company's website.
The figures reflect the contribution of recent acquisitions Redstation, one of the UK's leading dedicated server providers which offers "Dell dedicated servers, managed services and colocation services", cloud backup provider Backup Technology, and managed cloud and server company ServerSpace. News of iomart meeting its financial targets saw a 2% increase in the company's shares yesterday.
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