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Iomart Group plc ( (GB:IOM) ) has shared an announcement.
Iomart Group plc has successfully refinanced its banking facilities with a new £115 million Revolving Credit Facility from existing lenders, extending to June 2027. This refinancing aligns with the company’s strategic objectives and includes a margin ratchet mechanism to reduce interest costs as leverage decreases. The company also announced an expected non-cash goodwill impairment charge in its upcoming full-year results, reflecting a strategic shift away from low-growth areas and accelerated customer churn. This charge will not affect operational performance or cash flows, and the company remains confident in its growth strategy supported by its lending partners.
The most recent analyst rating on (GB:IOM) stock is a Hold with a £24.00 price target. To see the full list of analyst forecasts on Iomart Group plc stock, see the GB:IOM Stock Forecast page.
Spark’s Take on GB:IOM Stock
According to Spark, TipRanks’ AI Analyst, GB:IOM is a Neutral.
Iomart Group plc’s stock shows strong financial performance and attractive valuation, indicating potential for growth and income. However, the bearish technical indicators suggest caution in the short term, as the stock may face downward pressure. The recent strategic brand unification under ‘Atech’ is a positive step towards strengthening market presence.
To see Spark’s full report on GB:IOM stock, click here.
More about Iomart Group plc
Iomart Group plc is a leading UK provider of secure cloud managed services, focusing on simplifying modern technology for businesses. The company offers solutions in cloud infrastructure, workplace management, and managed security services, primarily serving the UK market. Iomart is recognized for its extensive Microsoft credentials and partnerships, including Azure Expert MSP and VMware Cloud, enabling it to deliver advanced hybrid cloud, data protection, and cyber resiliency technologies.
Average Trading Volume: 262,357
Technical Sentiment Signal: Sell
Current Market Cap: £32.59M
For an in-depth examination of IOM stock, go to TipRanks’ Overview page.