REG - Iomart Group PLC - Directorate Change and Trading Update

iomartAnnouncement

11/02/2026 07:00

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RNS Number : 4998S  Iomart Group PLC  11 February 2026

11 February 2026

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

iomart Group plc

("iomart" or the "Group" or the "Company")

 

Directorate Change and Trading Update

 

Directorate Change

 

iomart Group plc (AIM: IOM), the secure cloud services company, announces that
Scott Cunningham, Chief Financial Officer, has notified the Board of his
intention to step down from his role to take up a new opportunity in a private
company outside of the IT sector. To ensure a smooth transition, Scott will
continue in his role and work closely with Richard Last, Executive Chair, and
the wider leadership team through the completion of the March year‑end
reporting cycle. It is expected that Scott will leave the Board and the
Company in June 2026.

 

Scott has served iomart with dedication for over seven years, playing a
significant leadership role across the Group's financial, operational and
strategic development. The Board would like to express its thanks to Scott for
his contribution during a period of considerable organisational evolution and
transformation. The process to appoint Scott's successor will commence
immediately.

 

Richard Last, Executive Chair of iomart Group plc, commented: "On behalf of
the Board and the wider iomart team, I wish to thank Scott for his significant
commitment and contribution to iomart over the last seven years and wish him
every success in his new role."

 

Trading Performance

 

The Group experienced a softening in trading during December and January,
including an increase in customer churn compared to the earlier part of the
financial year, particularly in certain high margin areas. Growth, albeit
lower than expected, has been achieved in Azure, security and Microsoft 365
where margins are traditionally lower.

 

Net order bookings are expected to be positive for the financial year, and the
sales pipeline is encouraging.

 

The Group continues its cost optimisation and efficiency program, with
annualised savings of over £5.0m now having been achieved. We continue to
pursue further efficiency opportunities which will generate further profit
benefits, operational efficiencies and service quality improvements.

 

Overall, for the year to 31 March 2026, the Board now expects Group revenue to
be broadly in line with, and EBITDA to be just below, the lower end of current
market expectations.

 

Cash performance and capital expenditure discipline remain strong, and the
Group continues to operate within its current bank facilities.

 

Note: Company compiled range is based on known sell-side analyst estimates.
The latest known sell-side analyst estimates for the full year ended 31 March
2026 are:

·        Revenue in the range of £157.6m to £159.1m;

·        Adjusted EBITDA((1)) in the range of £27.7m to £28.5m; and

·        Adjusted loss before tax ((2) in the range of £(2.1)m to
£(1.0)m

·        Net Debt in the range of £98m to £107m

 

((1))adjusted EBITDA means earnings before interest, tax, depreciation,
amortisation, share based payment charges, forex gains or losses on long term
cash flow hedges, acquisition related costs and non-recurring items.

 ((2))adjusted loss before tax means profits before, tax, share based payment
charges, amortisation of acquired intangibles, forex gains or losses on long
term cash flow hedges, acquisition related costs and non-recurring items.

 

The person responsible for releasing this announcement on behalf of the
Company is Richard Last, Executive Chair.

 

For further information:

 iomart Group plc                                                           Tel: 0141 931 6400
 Richard Last, Executive Chair

 Investec Bank PLC (Nominated Adviser and Broker)                           Tel: 020 7597 4000

 Patrick Robb, Virginia Bull

 Alma Strategic Communications                                              Tel: 020 3405 0205
 Caroline Forde, Hilary Buchanan, Louisa El-Ahwal

 

About iomart Group plc

 

Iomart Group plc (AIM: IOM) is one of the UK's leading providers of secure
cloud managed services, simplifying the complexities of modern technology for
businesses, with the majority of Group revenue derived from the UK. Our team
of 600+ deliver cutting-edge solutions in cloud infrastructure, modern
workplace management, and managed security services that enable our customers
to innovate, protect, and scale their businesses.

 

We hold one of the UK's most extensive sets of Microsoft credentials,
including Azure Expert MSP, Eight Solution Designations, 15 Advanced
Specialisations including the new Copilot award and membership in Microsoft's
Intelligent Security Association (MISA). As well as being a top-tier Broadcom
Pinnacle Partner for VMware Cloud and Elite MSP Partner for Commvault. Which
means we can bring the latest technologies in hybrid cloud, data protection,
and cyber resiliency to meet the evolving needs of our customer

 

For further information about the Group, please visit  www.iomart.com
(http://www.iomart.com/)

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