Hosting company, iomart, has released a very upbeat update prior to the close of its financial year. For the year to end March 2013, the Group expects to achieve an adjusted EBITDA of not less than £16.4m (FY2012 was £11.2m) and an adjusted profit before tax of c£10.6m (FY2012 was £6.9m). Both of these figures would bring it in ahead of market consensus estimates.
iomart says it has delivered “strong organic growth” in parallel with “good performances” from its acquired businesses. Those businesses were: Melbourne Service Hosting Ltd (see Iomart finds Melbourne in Manchester), Internet Engineering Ltd and Skymarket Ltd (see Iomart: Acquisitions contribute heavily to growth).
During the year, iomart signed a “substantial number of contracts” for hosting services, and we are not at all surprised to hear this. More and more small and mid-sized firms are coming to the realisation that they should consider an external specialist for hosting services. iomart – along with competing players such as Pulsant, Attenda and Savvis– will be fuelled by this requirement, enabling them to out-grow the infrastructure services market more broadly (see also Telecity’s confident start to FY13).
We look forward to seeing iomart’s full-year results in late May. Furthermore, we have every reason to believe the new financial year will present more excellent opportunities for growth.