Sales/Support: 0800 040 7228

Access & Control

Customer Control Panel Partner Control Panel Webmail Login
Toggle Menu

iomart Interim Results

28th November 2007 · Investor News

Interim Results Announcement

iomart Group plc ("iomart"), the datacentre operating and web hosting business,

presents its consolidated interim results for the six month period ended 30

September 2007.

FINANCIAL HIGHLIGHTS

* Group operating loss of £0.4m (H1 FY07 profit £0.16m) after investment in datacentre business acquired at end of FY 07

* iomart’s existing businesses, which exclude the datacentre operation, deliver substantially improved performance:

* Operating profit increase to £1.2m (H1 FY07: £0.2m)

* Increase in operating cash contribution to £1.7m (H1 FY07: outflow £0.03m)

* Beneficial ownership of 99.8% of datacentre operation achieved

OPERATIONAL HIGHLIGHTS

* Improved operational efficiency, strengthened management and streamlined

existing businesses

* Senior management team in place to build datacentre business

* London datacentre fully operational

Nick Kuenssberg, Chairman, commented:

"It is gratifying that management’s efforts to improve the established iomart

businesses have been rewarded. An experienced and capable management team has been recruited to develop the datacentre business and I am delighted that the

London datacentre is now fully operational. Beneficial ownership of 99.8% of the datacentre operation has now been achieved which means we will acquire the datacentre business for a maximum total consideration of £9.6m.

As advised previously this is an appropriate time to review the composition of the Board and I am pleased to advise that we have made good progress on the appointment of a non-executive director and expect to make an announcement in

the near future."

Angus MacSween, CEO added,

"I am pleased to report that we have succeeded in increasing the profitability of iomart’s established businesses during the period and I am confident that further progress will be made in the second half of the year. We are seeing considerable and growing interest in both our datacentre services and our complex hosting capability – particularly from our target market of blue-chip enterprises seeking long term solutions. These will form the core of our future revenue streams, providing high margin earnings with good visibility."

Full details can be downloaded here:

www.iomartgroup.com/pdf/financial/interim_announcement_281107.pdf

For further information:

iomart Group plc

Angus MacSween Tel: 0141 931 6400

Nick Kuenssberg Tel: 07860635191

KBC Peel Hunt Tel: 020 7418 8900

Oliver Scott

Richard Kauffer

ICIS Limited Tel: 020 7651 8688

Tom Moriarty

Bob Huxford

Related Post

Subscribe to RSS Feed