You are here

Prices & Quotes - UK Markets - Iomart Group (IOM)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 224.50p
Change Today:
-0.50p
Market Cap:
245.99m
Sector:
Software & Computer Services

Iomart 'resilient' through pandemic as margin remains strong

By Josh White

Date: Tuesday 15 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Iomart reported "resilient" revenue through the Covid-19 pandemic in its final results on Tuesday, coming in at 111.9m, down marginally from the 112.6m it recorded in the 2020 financial year.
The AIM-traded managed technology and cloud computing firm said its revenue mix was improving, as growth in its core cloud managed services was offset by a reduction in non-recurring revenue, while prior-year acquisitions also made a positive contribution.

Adjusted EBITDA totalled 41.4m for the year ended 31 March, down from 43.5m, with an adjusted EBITDA margin of 37%, slipping from 38.6%.

That margin was higher than the industry average, the board noted, and was in line with expectations.

Adjusted profit before tax was impacted by a 1.3m increase in the depreciation charge in the year following acquisitions, Iomart said, as it fell 13.8% to 19.6m.

The company generated "high levels" of operating cash in the year at 43.7m, up from 41.3m year-on-year, representing a 106% conversion of adjusted EBITDA, compared to 95% in the 2020 financial year.

Its year-end cash position totalled 23m, rising from 15.5m a year earlier, with net debt standing at 54.6m, narrowing from 57.6m.

That meant the firm remained at a "comfortable level" of 1.3x adjusted EBITDA.

Looking ahead, Iomart said it had traded in line with management expectations at the start of the new financial year, in a manner described as "consistent" with the group's high recurring revenue business model.

It said its sales pipeline provided confidence in increased new customer wins, with a positive impact on revenue expected from the second half.

The board said it was "increasingly confident" in the group's long-term prospects.

"The year covered by this report coincided almost to the day with the onset of the pandemic in the UK," said chief executive officer Reece Donovan.

""We have now begun a new chapter for iomart, and I am proud to be at the helm of this great team.

"We have identified a significant market opportunity, growing our propositions in hybrid cloud, security, the digital workplace and connectivity, supporting our customers as they adapt to new ways of working now and in the future."

Donovan said the company had "proven" its robustness, underpinned by "high levels" of recurring revenues, breadth of customer base and strong cash generation.

"This is now enhanced with a clear strategic vision and roadmap to reposition the group for growth, both organically and through selective acquisitions, and the board is increasingly confident in the positive outlook for the long-term prospects for the group."

At 0922 BST, shares in Iomart Group were down 1.12% at 285.76p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Iomart Group Market Data

Currency UK Pounds
Price 224.50p
Change Today -0.50p
52 Week High 375.00p
52 Week Low 222.00p
Volume 56,155
Shares Issued 109.57m
Market Cap 245.99m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
Price Trend
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. full sector star
Growth
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
PEG
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
EPS Growth
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Iomart Group Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Aug-21 07-Jan-21
Paid 03-Sep-21 29-Jan-21
Amount 4.50p 2.60p

Trades for 17-Sep-2021

Time Volume / Share Price
14:10 9 @ 223.22p
14:09 3,000 @ 225.00p
14:09 163 @ 224.50p
14:09 1 @ 224.17p
14:08 339 @ 223.42p

Iomart Group Key Personnel

CEO Reece Donovan