StockMarketWire.com - Cloud computing group Iomart said it expected revenue to grow 2% in the first half of the year amid virus-led slowdown in activity.

For the six months ended 30 September 2020, the company anticipates reporting revenue growth of 2% to over £56m year-on-year and steady levels of adjusted earnings before interest, taxes, depreciation and, amortization (EBITDA) at approximately £21m, down from £21.8m. 'The results reflect greater uptake of our managed private cloud solutions [...], the timing of billing for certain orders; and only a partial benefit from efficiency adjustments to our cost base made in the period,' the company said. The cash generation was ahead of the its expectations, with the period end cash position increasing to approximately £19m at 30 September 2020, from £15.5m seen at the end of March, the company said.



At 8:17am: [LON:IOM] Iomart Group PLC share price was +1.25p at 356.25p



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