The company benefiting from strong levels of recurring revenues, and reported a 2% increase to £56.3 million.
The company said their revenues were a direct result of the contribution from two smaller acquisitions made by iomart in the final month of the last financial year.
Iomart unveiled cash generated from operations in the period increased with retention of the strong profit to cash conversion resulting in £20.1 million of closing cash.
The company reported a period end net debt of £58.1 million, and interim dividend maintained at 2.6 pence per share.
“Whilst we have exciting plans for the future of iomart, the focus in the first half of the year had to be the protection of our people, customers and stakeholders in the face of Covid-19,” said Reece Donovan, CEO, iomart (pictured).
“I am pleased to report such a resilient set of results and would like to thank our team for their continued efforts and commitment.
“iomart’s business model has stood us in good stead and despite the global slowdown in corporate activity, we continue to perform well.
“The previous investments into our sales and operational teams provide us with a strong foundation to accelerate growth once companies regain the economic confidence to make infrastructure transformation decisions.
“We have no doubt the transition to the cloud will continue for many years to come and that we can play a considerable role in being the enablers of that journey for our customers. We remain confident in the long-term prospects for iomart.”
The company recently announced the launch of iomart Managed Security Service (iMSS), and completed a £1 million transformational IT consultancy project for local government customer, supporting deployment of modern workplace technology
Iomart is set to increase in new business discussions and added that revenue and profit margins expected to benefit in H2 FY2021 from growth from existing customers and operational efficiencies.
