StockMarketWire.com - Cloud computing company Iomart said it expected to deliver lower profit this year, in line with expectations, following a decline in margins.
For the year ended 31 March 2020,, the company expected to report adjusted pre-tax profit of approximately £22.5m, down from £25.5m on-year and revenue of approximately £112m, up from £103.7m.
The fall in profit was hurt by narrower margins amid a ramp-up investment in the company.
The mix in revenue in the year and increased investment mainly in the sales organisation, had resulted in a lower adjusted operating profit margin of approximately 22% from 25.7% last year.
At 8:50am: [LON:IOM] Iomart Group PLC share price was -4p at 286p
Story provided by StockMarketWire.com
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