iomart (AIM:IOM), the cloud computing company, is pleased to report its consolidated final results for the year ended 31 March 2018.
- Revenue growth of 9% to £97.7m (2017: £89.6m)
- Adjusted EBITDA1 growth of 9% to £39.8m (2017: £36.6m)
- Adjusted profit before tax growth2 of 7% to £24.0m (2017: £22.4m)
- Adjusted diluted earnings per share3 from operations increased by 6% to 17.96p (2017: 16.99p)
- Cashflow from operations increased by 8% to £40.8m (2017: £37.8m)
- Adjusted profit before tax2 margin maintained at 25% (2017: 25%)
- Proposed final dividend of 4.93p per share resulting in total dividend for year of 7.18p per share, an increase of 20% (2017: 6.00p per share)
- 3 successful acquisitions completed during the year:
- Dediserve for €7.9m
- Simple Servers for £4.9m
- Sonassi for £11.8m
- Creation of software defined fibre network
- Post year-end extension on London datacentre lease until 2030
The above highlights are based on adjusted results. A full reconciliation between adjusted and statutory results is contained within this statement. The statutory equivalents of the above results are as follows:
- Profit before tax growth of 1% to £14.8m (2017: £14.7m)
- Basic earnings per share from operations increased by 1% to 11.41p (2017: 11.27p)
1 Throughout this statement adjusted EBITDA is earnings before interest, tax, depreciation and amortisation (EBITDA) before share based payment charges, acquisition costs, gain on revaluation of contingent consideration and non-recurring costs. Throughout this statement acquisition costs are defined as acquisition related costs and non-recurring acquisition integration costs.
2 Throughout this statement adjusted profit before tax is profit before tax, amortisation charges on acquired intangible assets, share based payment charges, mark to mark adjustments in respect of interest rate swaps, acquisition costs, interest on contingent consideration due, gain on revaluation of contingent consideration and non-recurring costs.
3 Throughout this statement adjusted earnings per share is earnings per share before amortisation charges on acquired intangible assets, share based payment charges, mark to mark adjustments in respect of interest rate swaps, acquisition costs, interest on contingent consideration due, gain on revaluation of contingent consideration and non-recurring costs and the taxation effect of these.
Angus MacSween, CEO commented,
“ We are delighted to report another year of excellent results, with increased revenues and profits and the completion of a number of acquisitions, augmenting the Group’s customer base and skill set. Trading in the new year has continued in a similarly positive vein.
” Since we embarked on our current strategy in 2007, we have successfully executed on our growth strategy, growing revenues from £8m to nearly £100m. We strongly believe that the market for cloud computing solutions we identified at the time presents us with as much opportunity now as it did then and that, together with additional acquisitions, will allow us to continue to execute successfully on the strategy we put in place at that time.
” There is still a long runway of opportunity as the “IT as a service” philosophy and delivery unfolds, providing us with considerable scope for long-term, sustained growth. We therefore look to the coming year and beyond with confidence”.
Download a copy of the full report here: iomart Group plc – Results Announcement 2018.
For further information:
|iomart Group plc||Tel: 0141 931 6400|
|Peel Hunt LLP
(Nominated Adviser and Broker)
|Tel: 020 7418 8900
|Alma PR||Tel: 020 8004 4218|
About iomart Group plc
iomart Group PLC (AIM: IOM) helps organisations maximise the flexibility, cost effectiveness and security of the cloud. From strategy to delivery, our 300+ consultants and solutions architects provide the cloud expertise to transform your business. With a dynamic range of managed cloud services that integrate with the public clouds of AWS and Azure, our agnostic approach delivers solutions tailored to the specific individual needs of our customers. iomart is a long term supplier to G-Cloud and our infrastructure and cloud and backup services are designed to meet the requirements of the UK public sector.
To find out more about our managed cloud services visit www.iomart.comSubscribe to RSS Feed