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Final Results for the year ended 31 March 2008

29th July 2008 · Investor News


Final Results for the year ended 31 March 2008

iomart, the managed hosting company, is pleased to report its preliminary results for the year ended 31 March 2008.

Financial Highlights

• Over £3 million spent on operating costs on start up datacentre operation with limited impact on profitability

       o EBITDA £1.0m (2007: £1.3m)

• Operating cashflow of £0.5m (2007: £0.2m)

• Managed Hosting (incorporating Easyspace and Hosting divisions) revenues increased by 17% to £7.7m (2007: £6.6m)

      o iomart’s largest ever contract to date for a total of £6.75m over 5 years with BT signed late in the year

      o Improved future revenue visibility

• £20m cash sale of Ufindus to BT post year end

Operational Highlights

• In first year of datacentre operation Hosting division added approximately 50 corporate managed hosting customers

• Easyspace division now supports over 210,000 SME customers

• New sales operation established during the year for corporate managed hosting division

Angus MacSween, Chief Executive Officer commented, “This has been a transformational year with the successful sale of Ufindus this month for £20m and the development of our complex managed hosting business using our own network of carrier neutral datacentres. We are now well positioned to address our chosen market with the firepower to make strategic acquisitions in combination with our organic growth.”

A full copy of the preliminary results yera ended 31.03.08 can be found here:

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