iomart

iomart

December 01, 2009 01:00 ET

iomart Group Delivers Pounds Sterling 1.4m Profit as it Heads for the Clouds

GLASGOW, UNITED KINGDOM--(Marketwire - Dec. 1, 2009) - A 47% increase in revenues has helped managed hosting and cloud computing business iomart Group plc report a profit of Pounds Sterling 1.4M (Pounds Sterling 0.65M loss Sept 2008) in its half yearly results to September 30 2009.

The Group also revealed that it's managed hosting arm, iomarthosting.com, has doubled its customer based and moved into profitability, following a period of investment. Overall, the results show the Group is delivering on its strategy of growing its managed hosting business as it bids to become recognised as the UK's foremost managed hosting company.

In May, iomart Group acquired dedicated server hosting company RapidSwitch for Pounds Sterling 5.25m. RapidSwitch has quickly integrated into the Group and is performing well by continuing to grow revenues and profit.

The Group's Maidenhead data centre has also been fitted out to provide another 3500 square feet of hosting space to allow for further expansion; in addition, the data centre now houses RapidSwitch's entire hosting infrastructure, eliminating external rental costs and delivering substantial savings for the Group.

The Group launched two cloud computing products under its iomart Hosting brand; CloudXtra, designed for short-term, fluctuating computing demand and CloudSure, which provides a resilient high availability platform for business critical applications.

Angus MacSween, CEO of iomart Group plc, said: "We're very pleased with the progress we've achieved and all of our hosting brands have performed well over the period. We achieved a major milestone during the period moving into recurring monthly EBITDA profitability in our existing operations, further accelerated by the acquisition of RapidSwitch.

"We have continued to win new business since the end of the period and have good visibility of revenues for the second half of the year. In addition to the revenue growth that we have experienced from new customers, we're especially delighted at the levels of additional business we are gaining from our existing customer base, as they turn to us, as trusted supplier, to provide the additional services that they need for their own expansion. Our current trading is well in line with expectations and we remain confident for the full year."

"The enhancement of our cloud computing offerings during the period underlines our intentions to innovate in the provision of UK hosting services and we believe we are well placed to take advantage of the market opportunity in this area."

During the period the Group also renegotiated a deferred payment for its 2007 acquisition of data centres from Ezee DSL, from Pounds Sterling 4.8m to Pounds Sterling 3.8m.

NOTES TO EDITORS

About iomart

Founded in 1998, and listed on AIM in 2000, iomart plc has built an enviable reputation for its core internet hosting skills and experience. The company holds a unique place in the hosting market in that it genuinely offers a 'one source' approach. By physically owning and managing its own network infrastructure, including state-of-the-art data centre facilities, it offers world-beating levels of service to its customers.

iomart provides a blend of hosting services, ranging from domain name management through to complex managed data centre solutions, to both the private and public sector.

The group operates in the hosting market through its iomart Hosting, Easyspace, RapidSwitch, Internetters and virtualserver.com brands.

iomart Group plc (AIM:IOM), the managed hosting provider, is pleased to report its consolidated half yearly results for the period ended 30 September 2009.

Contact Information

  • Press Office
    Lister Pavilion
    Kelvin Campus, Glasgow, UK, G20 0SP
    +44 141 931 6400
    marketing@iomart,com
    www.iomarthosting.com