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iomart trading statement

24th June 2003 · Investor News

iomart trading statement

The board made the following statement at the annual general meeting in Glasgow today:

”NetIntelligence has been further developed as a sophisticated tool in the growing content management market. The latest version (3.1) provides a full range of detailed management reports, increasingly accepted by sophisticated customers including local authorities, financial services and higher education. Although speed of uptake has been disappointing to date, we are ahead of budget for the first quarter of the current year and optimistic of further significant sales in the near future.

Web services have continued to develop at 1,000 new customers per month. Sales to some 8,500 customers are running at approximately £3.5m a year and we are reviewing other opportunities in a market that is now consolidating.

Cash balances at end May were £3.6m which we anticipate will be sufficient both to fund the marketing spend for NetIntelligence and the further development of our web services business. We believe that group profitability on a monthly basis is achievable before the end of the current financial year.”

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