1st Apr 2019 12:09
LONDON (Alliance News) - Iomart Group PLC on Monday said it anticipates to report that it just completed another year of revenue growth, adding it enters its new financial year with confidence.
The cloud computing company said it expects to report revenue of GBP104 million for the year that ended on Sunday, up 6.4% from GBP97.7 million a year earlier, with adjusted pretax profit up 5.4% to GBP25.3 million compared to GBP24.0 million.
Iomart said it expects adjusted earnings before interest, taxes, depreciation, and amortization to total GBP42.2 million, 6.0% higher than GBP39.8 million the year before.
Over the last 12 months the company said it has reinvigorated our sales and marketing function to ensure it is best placed to capture the full market opportunity. The early benefits of this effort started to flow through in the second half of its financial 2019, Iomart said, with an increase in new lead generation from both new and existing customers.
Iomart expects to report its annual results on June 11.
Looking ahead, the AIM-listed company said it will continue to invest in its cloud product offering, skills and organisational platform.
"The group's large and building sales pipeline, combined with high levels of visibility and a significant market opportunity, leaves the board very confident in the outlook for the new financial year, as well as the long term prospects for the group," said Chief Executive Angus MacSween.
Iomart shares were trading 0.2% lower on Monday at 348.39 pence each.
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