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iomart Group plc Half Yearly Results

24th November 2009 · Investor News

 

iomart Group plc (AIM:IOM), the managed hosting provider, is pleased to report its consolidated half yearly results for the period ended 30 September 2009.

FINANCIAL HIGHLIGHTS

• EBITDA profit of £0.84m (H1 2009 loss of £0.36m

• Revenue growth of 47% to £8.4m (H1 2009 £5.7m)

• Net cash at end of period of £4.5m (H1 2009 £13.7m)

• Acquisition of RapidSwitch for £5.25m

OPERATIONAL HIGHLIGHTS

• RapidSwitch integrated into Group and operations completely migrated into own datacentre in Maidenhead

iomart Hosting customer base has more than doubled in size from September 2008

• Continuing development of cloud capability with new services launched

Angus MacSween, CEO commented,

“We achieved a major milestone during the period moving into recurring monthly EBITDA profitability in our existing operations, accelerated by the acquisition of RapidSwitch. We have continued to win new business since the end of the period and have good visibility of revenues for the second half of the year. Our current trading is well in line with expectations and we remain confident for the full year.”

The detailed Half Yearly results are available here

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