iomart (AIM:IOM), the cloud computing company, is pleased to report its consolidated half yearly results for the period ended 30 September 2017.
- Revenue growth of 12% to £47.0m (H1 2017: £42.1m)
- Cloud Services growth of 13% (H1 2017: 13%)
- Adjusted EBITDA1 growth of 9% to £19.2m (H1 2017: £17.6m)
- Adjusted profit before tax2 growth of 9% to £11.6m (H1 2017: £10.6m)
- Adjusted diluted earnings per share3 from operations increased by 10% to 8.82p (H1 2017: 8.03p)
- Maiden interim dividend of 2.25p per share
- Ongoing investment in cloud skills
- Further improvements and investment in automation of server deployment
- Significant investment in software defined network
- Development of skills in major niche verticals, particularly in the eCommerce sector
- Acquisition of two eCommerce cloud businesses, one during period and one post period end
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 9% to £7.8m (H1 2017: £7.1m)
- Basic earnings per share from operations increased by 10% to 5.96p (H1 2017: 5.43p)
Angus MacSween, CEO commented,
“The Group has enjoyed another good period of trading in the first half of the year, with growing recurring revenues in line with our business model. The market opportunity remains significant and we continue to invest in our skills, infrastructure and capabilities to meet the evolving demands of the market. We are firmly on track to deliver another year of material growth and we remain confident in our prospects.”
1 Throughout this statement adjusted EBITDA is earnings before interest, tax, depreciation and amortisation (EBITDA) before share based payment charges and acquisition 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 market adjustments in respect of interest rate swaps, interest charges in respect of contingent consideration due and acquisition 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 market adjustments in respect of interest rate swaps, interest charges in respect of contingent consideration due and acquisition costs including the taxation effect of these.
This interim announcement contains forward-looking statements, which have been made by the directors in good faith based on the information available to them up to the time of the approval of this report and such information should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information.
Download the full half yearly statement.
For further information:
|iomart Group plc||Tel: 0141 931 6400|
|Angus MacSween, Chief Executive|
|Richard Logan, Finance Director|
|Peel Hunt LLP |
(Nominated Adviser and Broker)
|Tel: 020 7418 8900 |
|Edward Knight |
|Alma PR||Tel: 020 8004 4217|
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 your exact needs. 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. For further information about the Group, please visit www.iomart.comSubscribe to RSS Feed