Iomart Group PLC - Glasgow, Scotland-based managed services and cloud computing firm - Expects its financial year 2022 ended March 31 to be in line with market expectations. It says it expects an adjusted pretax profit of £17 million, down from £19.6 million a year ago.

Adjusted earnings before interest, tax, depreciation and amortisation are expected to shrink to £38 million from £41.4 million. The company sees its revenues falling to £103 million from £111.9 million.

‘We have launched a number of new solutions to the market, recently entered into an exciting alliance to accelerate our managed cyber security offering, reshaped the commercial team and invested in our customer service tools and resource,’ comments Reece Donovan, chief executive officer.

The firm aims to release its financial year results on June 14.

Current Iomart stock price: 180.00 pence, up 9.5% on Tuesday

12-month change: down 44%

Copyright 2022 Alliance News Limited. All Rights Reserved.