Iomart reports 'good visibiliy' heading into the second half of the year
Source - SMW
Iomart reported ‘good visibility’ heading into the second half of the year and said margin performance would be skewed toward the second half of the year, as new orders started to boost revenue.
Overall revenue growth was in line with management expectations, and the previously flagged investment in and reorganisation of the company’s commercial operations was now starting to deliver more new customer wins and a stronger pipeline of opportunities, the company said.
There had been an increased level of larger, more complex enterprise contract wins in the first half, whose revenue would start to be recognised in the second half of the year, the company added.
‘The investments we have made in strengthening our sales engine, along with the broader mix of revenue in the first half of the year, means that margin performance will be skewed towards the second half of the year, as new orders start to contribute to revenue.’
Looking ahead, the company said that despite any short-term delays to decision making due to the current macro-economic and political uncertainty, our increased investment in the business ‘means we are well positioned to take advantage of the opportunity and the Board is confident in the outlook for the full year and beyond,’ Iomart said.
At 8:45am: (LON:IOM) Iomart Group PLC share price was -4.5p at 355p