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UK Cloud Company iomart Expects To Announce Pre Tax Profits of £14.5million

iomart Issues Positive Pre-Close Trading Statement 

iomart Group plc (AIM:IOM), one of the UK and Europe’s leading cloud companies has issued its pre-close trading statement for the year ending 31 March 2014 ahead of the announcement of its full year results.

For the year to 31 March 2014, iomart expects to show adjusted EBITDA of approximately £23.6 million (FY2013: £16.4 million) and adjusted profit before tax of around £14.5 million (FY2013: £10.6 million) both slightly ahead of market consensus expectations.

Over the period, iomart has delivered strong organic growth combined with good performances from its acquired businesses Backup Technology and Redstation. The Board anticipates these dual drivers of growth continuing over the coming period.

Angus MacSween, Chief Executive of iomart, said: “iomart has enjoyed another year of good organic growth, buoyed by our recent acquisitions. There is no doubt that we are seeing a long term shift towards a cloud dominated technology landscape, and we are well positioned to take advantage of that.”

iomart expects to report its full year results for the year ending 31 March 2014 on Wednesday 28 May 2014.

iomart is named in the London Stock Exchange report ‘1000 Companies to Inspire Britain.’