iomart Group PLC (AIM:IOM) enables businesses and organisations to operate their online data and IT environments safely and securely.
Headquartered in Glasgow, Scotland, iomart partners with leading vendors such as VMware, Amazon, EMC, Microsoft, Asigra, Arbor and Dell to offer customers a centrally managed, controlled and completely agnostic set of hybrid, private and public cloud platforms.
By owning a global network and datacentre infrastructure, iomart can support any customer who wishes to move seamlessly between any and all of these platforms with a consultative level of knowledge and expertise, delivering cloud services to meet exact business needs.
Their website is available at www.iomart.com
Acquisition of Atech and H1 trading update Powerful combination of secure cloud offerings marks the next phase of iomart’s evolution …
Final Results Solid financial results provide foundation for a bolder strategy for growth iomart (AIM: IOM), the cloud computing company, …
iomart Group plc (“iomart” or the “Group” or the “Company”) Pre-close Trading Update and Notice of Results iomart Group plc …
Launch of 2024 SAYE Scheme iomart Group Plc, the cloud computing company, is pleased to announce that it launched a …
Acquisition of Accesspoint Technologies Acquisition of a leading IT hosting partner focused on the legal sector iomart Group plc (AIM: …
Continued momentum in the execution of its growth strategy iomart (AIM: IOM), the cloud computing company, is pleased to …
| P&L | 31 March 2024 £~000 | 31 March 2023 £~000 |
|---|---|---|
| Gross Revenue | 127,049 | 115,638 |
| Cost of Sales | (57,469) | (52,080) |
| Gross Profit | 69,580 | 63,558 |
| Profit before tax | 8,741 | 8,502 |
| Total dividend for the year | 4.94p/share | 5.44p/ share |
| Balance Sheet | 31 March 2024 £~000 | 31 March 2023 £~000 |
|---|---|---|
| Cash & cash equivalents | 15,755 | 13,818 |
| Total assets | 230,870 | 218,676 |
| Total liabilities | (107,473) | (98,120) |
| Net assets | 123,397 | 120,556 |
Investors Chronicle (Jun 2023):“Iomart’s cash generation comes cheap”
“iomart Group (US:IOM) is currently switching its focus from self-managed infrastructure to cloud managed services; the problem with this shift is that self-managed infrastructure (SMI) is higher margin: in that business, as the name implies, customers are responsible for upkeep, which means fewer costs for Iomart.”
Directors
Angus MacSween – 14.82%
Lucy Dimes – 0.55%
Scott Cunningham – 0.09%
Karyn Lamont – 0.01%
Other
Gresham House – 18.52%
Lombard Odier – 11.18%
Octopus Investments – 9.99%
Investec Wealth – 4.99%
Quintet – 2.20%
Slater – 2.16%
Canaccord – 2.01%
Cavendish (Oct 2023): Trading on track
After a steady set of prelims in June, which demonstrated cost control and a focus on extending growth and capabilities, the trading update continues to deliver the focus on growth. The group has delivered 18% revenue growth to £62.0m (1H23: £52.6m), including £6.5m from the latest two acquisitions, representing 48% of our unchanged forecasts; and EBITDA of £18.5m, which grew 4% in line with margin pressure evident since 2H23, also delivered 48% of expectations. Net debt, expressed by the company inclusive of IFRS16 gross liabilities, accommodated £9.7m of deferred consideration and acquisition payments and £3.6m of dividend payments, settling at £49m (FY23: £39.8m), which we estimate to be c£29.8m of bank net debt in peer group context – equivalent to 0.8x net debt/EBITDA (0.9x when using EBITDA less lease payments) and allowing plenty of headroom for further acquisitions. Extrinsica was acquired in June, adding Microsoft Azure capabilities that extend the TAM of opportunities open to the group, and we would be unsurprised by the addition of further acquisitions in Microsoft and/or cyber expertise. The group has a £100m debt facility to 2026. iomart’s refreshed and embedded sales team remains focused on looking up, with downgrades now a thing of the past (the last was October 2022), and the opportunity in recurring revenue and growth is attractive. T
