Techinvest - July issue:
Buoyed by growing demand for cloud computing, iomart (246p) reported sales for
the year to March 31 of ÃÂ£65.8m, up 18%. Around half the growth was organic. Eps
climbed 16.9% to 12.5p. iomart is purchasing IT consultancy SystemsUp for ÃÂ£9.0m cash. This should bolster iomartÃ¢â¬â¢s Ã¢â¬Ëpublic cloudÃ¢â¬â¢ offerings. In 2014 the business had sales of ÃÂ£4.0m and a pre-tax profit of ÃÂ£1.5m. For fiscal 2016, broker SP Angel expects iomart to achieve eps of 14.8p. As a play on the expanding cloud market where takeover activity is high, the shares are worth noting.
Agree - a takeover could materialise out of the blue here and could be north of ÃÂ£3 imo. dyor
Possibly people think it may affect the chance of a takeover or indicate a reluctance to be taken over or maybe it's moved up a lot in anticipation of good results and a few are getting out before the announcement and has little to do with the acquisition?
The other big news during FY15 was the potential acquisition of iomart by Host Europe. As it happened, talks were terminated in September. iomartÃ¢â¬â¢s CEO, Angus MacSween, subsequently told us that a formal offer was never made and that the companies were Ã¢â¬Åa million miles away from getting a deal doneÃ¢â¬ï¿¾. Nonetheless, we believe iomart remains an obvious target for takeover.
15th march is the earliest date that host can bid again. Possible exciting times ahead again.