Iomart Anticipates Annual Results In Line With Market Consensus

29th Mar 2018 13:51

LONDON (Alliance News) - Iomart Group PLC said on Thursday it expects to report "another strong set of results" delivering good growth in both revenue and profit for the year ending on Saturday.

The cloud computing company said revenue is expected to grow 9%, with adjusted earnings before interest, tax, depreciation and amortisation of GBP39.8 million - up from GBP36.6 million the year before - and adjusted pretax profit of GBP23.9 million, down slightly from GBP22.4 million.

These figures are all in line with market consensus, the firm said.

The Cloud Services unit continued to win a "substantial" amount of new business over the year.

Easyspace, which provides services to small businesses, performed well, in line with expectations.

"Given the sustainable nature of the market opportunity, a broadening product offering and a growing reputation within the cloud industry, the Board anticipates that growth will continue in the future," Iomart said.

The company will report its full-year results on June 12. Shares in Iomart were up 1.5% at 370.00 pence on Thursday.

---

Related Shares:

Iomart