Business
Pre-Close Trading Statement
Pre-Close Trading Statement.
About this update from Iomart Group Plc
[{"type":"text","content":"\n \nRNS Number : 9693D Iomart Group PLC 31 March 2011 \n \n\niomart Group plc\n \n(\"iomart\" or the \"Group\")\n \nPre-close Trading Statement and Notice of Results\n \niomart Group plc (AIM:IOM), the managed hosting and cloud computing services company, is pleased to provide its pre-close trading statement ahead of the announcement of the full year results.\n \nGroup Trading Performance\n \nThe Group has achieved a very strong set of results across its operating segments. For the year to 31 March 2011, the Group expects to show an EBITDA1 in the range of £6.4m to £6.6m. This is ahead of the market consensus, which had already been upgraded three times during the current financial year, including the impact of the acquisition of Titan Internet Limited in October.\n \nConsequently, EBITDA1 will have more than doubled from the level recorded in the previous financial year.\n \nThe Group expects to report a similar increase in PBT over the current market consensus.\n \nOperating Segments\n \nBoth the Group's operating segments performed well in the year. \n \nThe Hosting segment saw strong growth in the year and benefited from the contribution of Titan Internet, the hosting business acquired during the year. Good progress has been made on the integration of this operation into the Group. As has already been announced, iomart Hosting has continued to win a substantial number of contracts over the year, benefiting from the continued growing momentum of companies seeking to outsource part or all of their IT requirements to the cloud.\n \nThe Easyspace segment also delivered a robust performance in terms of both profitability and cash generation, providing a strong platform for the Group. \n \nThe Group continues to benefit from high recurring revenues and therefore has good visibility of earnings for the coming year. Barriers to entry remain high as customers are only prepared to trust their mission critical infrastructure to an organisation with a proven reputation.\n \nAngus MacSween, CEO of iomart Group plc, stated: \n \n\"Our strong trading in the year is evidence of our ability to capitalise on the significant growth in the managed services market. We believe that the iomart proposition is unique amongst niche managed hosting companies in that it combin...