iomart Group plc: Final Results

7th June 2016 | iomart Group plc

iomart (AIM:IOM), the cloud computing company, is pleased to report its consolidated final results for the year ended 31 March 2016.

FINANCIAL HIGHLIGHTS

  • Revenue growth of 16% to £76.3m (2015: £65.8m)
  • Adjusted EBITDA* growth of 11% to £32.3m (2015: £29.1m)
  • Adjusted profit before tax growth** of 14% to £19.0m (2015: £16.6m)
  • Adjusted diluted earnings per share*** from operations increased by 14% to 14.44p (2015: 12.63p)
  • Cashflow from operations increased by 14% to £30.9m (2015: £27.2m)
  • Adjusted PBT2 margins maintained at 25% (2015: 25%)
  • Proposed final dividend increased by 26% to 3.15p per share (2015: 2.50p per share)

OPERATIONAL HIGHLIGHTS

  • Continuing to build relationships for Hybrid Cloud opportunities with major players
  • First significant public cloud implementation and achieved Advanced Partner status with Amazon Web Services (AWS)
  • Continued M&A activity with the acquisitions of SystemsUp and United Hosting
  • Continued investment in senior resources to provide platform for future growth

Statutory Equivalents

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 21% to £13.0m (2015: £10.8m)
  • Basic earnings per share from operations increased by 24% to 10.32p (2015: 8.34p)

Angus MacSween, CEO commented,

“Trading since the year end remains good and in line with market expectations.

“The long term opportunity is bigger than ever. The investments we have made in our staff, skillsets and industry relationships mean we are well positioned to take advantage of that opportunity and to deliver further significant growth.

“I look forward, once again, with confidence to the year ahead.”

Results in full

*  Throughout this statement adjusted EBITDA is earnings before interest, tax, depreciation and amortisation (EBITDA) before share based payment charges, gain on revaluation of contingent consideration and acquisition costs. Throughout this statement acquisition costs are defined as acquisition related costs and non-recurring acquisition integration costs.

**  Throughout this statement adjusted profit before tax is profit before tax, amortisation charges on acquired intangible assets, shared based payment charges, mark to mark adjustments in respect of interest rate swaps, acquisition costs, interest on contingent consideration due, gain on revaluation of contingent consideration and the accelerated write off of arrangement fees on the bank borrowing facility which was restructured during the year.

*** Throughout this statement adjusted earnings per share is earnings per share before amortisation charges on acquired intangible assets, shared based payment charges, mark to mark adjustments in respect of interest rate swaps, acquisition costs, interest on contingent consideration due, gain on revaluation of contingent consideration and the accelerated write off of arrangement fees on the bank borrowing facility which was restructured during the year, including the taxation effect of these.


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