Web-hosting and data storage company Iomart said it has achieved a very strong set of results across both its operating segments, ahead of market forecasts, and is confident of further growth in the next financial year and beyond.
The cloud computing firm expects to show an adjusted EBITDA of not less than £11m for the year to 31 March 2012 compared to £6.6m for the same period in 2011. Adjusted pre-tax profit is expected to be around £6.7m compared to £3.6m the previous year.
"The group has delivered strong organic growth as well as good performances from the acquired businesses and the board sees continued organic and acquisitive expansion prospects for Iomart going forward," it said in a company statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
CEO Angus MacSween said, "Iomart continues to benefit from a compelling mix of recurring revenues, sticky customers, good forward visibility and a leading competitive position. As a result we remain very confident of further growth in the next financial year and beyond."
"Having successfully purchased and integrated Switch Media, EQSN and Global Gold during this financial year the Group continues to pursue additional opportunities for continued accelerated growth through acquisitions," he added.
CJ
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
