UK-based cloud computing company iomart Group Plc (IOM.L) on Tuesday said it has achieved a very strong set of results, and expects higher adjusted pre-tax profit and EBITDA, a key earnings measure, for fiscal year ending March 31, both ahead of market consensus.
In its pre-close trading statement for the year, the company said its full-year adjusted profit before tax would be approximately 10.6 million pounds, higher than prior year's 6.9 million pounds. Adjusted EBITDA would be not less than 16.4 million pounds, compared to 11.2 million pounds a year earlier.
The company said it has delivered strong organic growth as well as good performances from its acquired businesses and the Board sees that pattern continuing as further consolidation takes place.
The company expects to report its full year results for the year on Wednesday, May 29.
CEO Angus MacSween stated, "iomart continues to benefit from a compelling mix of a growing market, 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."
In London, iomart shares are currently trading at 232.88 pence, up 5.38 pence or 2.36 percent.
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