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Iomart Group plc ( (GB:IOM) ) has shared an announcement.
Iomart Group plc announced a trading update for the year ending March 31, 2025, highlighting the successful acquisition of Atech, which has strengthened its position as a secure cloud services provider in the UK. While new order bookings remain strong, the company faces challenges with increased customer churn and lower renewal levels in legacy services. This shift in revenue mix is expected to result in adjusted EBITDA falling approximately 10% below market expectations, though revenue is anticipated to meet forecasts. The company remains committed to its ‘bigger, better, bolder’ strategy, aiming for long-term growth by focusing on higher growth segments and optimizing its infrastructure costs.
More about Iomart Group plc
Iomart Group plc is a leading UK provider of secure cloud managed services, specializing in cloud infrastructure, modern workplace management, and managed security services. The company has a team of over 650 experts and holds extensive Microsoft credentials, allowing it to deliver innovative solutions in hybrid cloud, data protection, and cyber resiliency.
YTD Price Performance: -14.48%
Average Trading Volume: 111,162
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £70.95M
For detailed information about IOM stock, go to TipRanks’ Stock Analysis page.