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RapidSwitch parent company iomart Group is crowned Scottish PLC of the Year

19/04/2012

RapidSwitch is delighted to announce that parent company iomart Group plc (AIM:IOM), has been crowned Scottish PLC of the Year at the 2012 Scotland PLC Awards.

The judges of the awards, which were established to recognise the success of Scotland's listed companies, described iomart's growth as 'exceptionally impressive.'

iomart was chosen ahead of Scottish giants including Weir Group and Aggreko. The Glasgow-headquartered cloud computing company also picked up a second major award, for AIM/Mid-sized Cap of the Year.

Angus MacSween, CEO of iomart Group plc, said: "This is fantastic recognition for everyone at iomart who has worked so hard to help the company grow over the past decade. It's been an amazing ride and further validates our strategic direction. Cloud computing is now proving its worth for UK and international business and some of the most recognised brands and organisations now choose iomart to host their IT infrastructure, websites and applications."

One of the judges said of iomart Group: "They have gone from being a small loss-making business through to profitability and now on to building scale in what is a difficult arena; exceptionally impressive." The judges also pointed to the fact that iomart's share price had gone from under 5 pence ten years ago to more than 20 times that figure in 2011 and that it had continued to grow both organically and acquisitively in the past year.

Among the organisations iomart provides cloud computing and managed hosting services for are Government office supplies provider office2office, fashion retailer Reiss and cheap flights search specialist Skyscanner. Two of iomart's customers, international travel group Stagecoach and broadcaster STV were also among the winners at the Scotland PLC Awards - STV won the award for Digital Value Creation while Stagecoach were co-winners of the Sustainability Award.

iomart recently released its pre-close trading statement announcing that it has achieved a very strong set of results across both its operating segments, ahead of market consensus. For the year to 31 March 2012, the Group expects to show an adjusted EBITDA of not less than GBP 11 million (FY2011: GBP 6.6 million) and adjusted profit before tax of approximately GBP 6.7 million (FY2011: GBP 3.6 million).

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