Glasgow, United Kingdom – (The Hosting News) – December 21, 2007 – Web hosting and managed services company, iomart group plc, has released its consolidated interim financial results for the six month period ending 30th September 2007, revealing that the group has been in line with expectations, after a first-half pre-tax loss, due to the initial development of the datacentre business.
Angus MacSween, CEO of iomart remarked, ”We are seeing considerable and growing interest in both our datacentre services and our complex hosting capability – particularly from our target market of blue-chip enterprises seeking long term solutions. These will form the core of the group’s future revenue streams, providing high margin earnings with good visibility.”
The Group posted a pre-tax loss of 435,000 pounds compared with a pre-tax profit of 30,000 pounds a year ago. Revenue fell to 9.6M pounds versus 10.9 M a year earlier. The Group sees positive market dynamics within the datacentre space, as echoed by numerous market commentators. With demand outstripping supply, prices for datacentre space are inevitably increasing.
Mr. MacSween added, ”This increasing market demand, coupled with iomart’s ability to offer the complete set of components in the hosting arena from dedicated servers through to complex managed hosting solutions and co-location space, means that the Group is well positioned to win high-value contracts with large organisations requiring significant amounts of rack space. Contracts of this kind, usually long-term, attract a premium price while offering numerous up-selling opportunities.”
The main focus of the management team, during the reporting period, has been to make the datacentres fully operational and able to deliver according to the highest industry standards. Both the London and Glasgow datacentres are fully operational and commissioning work has begun on the Nottingham and Leicester datacentres.
Mr. MacSween concluded, ”We have significantly increased our profile as a prominent player within the datacentre market, capable of offering a full end-to-end service. As a result of these developments, combined with encouraging market conditions, we are very positive regarding the long term prospects for its datacentre business. We believe that our strategy of becoming a leader in managed complex hosting, leveraging our own national infrastructure and experience will create a business with strong revenue streams, providing high margin earnings and good visibility.”
Founded in 1998, iomart is recognised as one of Europe’s largest and most established data centre facilities provider, including hosting and managed services.
To learn more, please visit: www.iomart.com.