iomart Group plc (“iomart”), the Glasgow based security software and web-services business, has today announced that three non-executive directors including the chairman have purchased shares in the company.
Nick Kuenssberg, Chairman, senior independent director Fred Shedden and the recently appointed non-executive director Chris Batterham have today purchased a total of 86,133 ordinary shares.
Nick Kuenssberg, chairman, commented, “Our first half year results were good, demonstrating that the company’s business model is effective and profitable. Our second half is historically significantly stronger which, with the impact of recurring growth, gives us confidence for very good results for the full year. There can be no better demonstration of our confidence in the future growth performance of the company than today’s announcement about directors share purchases.”
The market was informed today that Fred Shedden, Nick Kuenssberg and Chris Batterham purchased ordinary shares of 1p each in the Company as follows:
Nick Kuenssberg 28,233
Fred Shedden 32,900
Chris Batterham 25,000
Yesterday, the group announced its interim results that showed an increase in turnover of 70%, up from £6.43M to £10.95M and sharp rise in profits before tax from £110K to £1.42M.
Interim results announced 17th November 2005
Turnover on continuing operations for the period was £10.95m,up from £6.43m,which represents an increase of 70% over the corresponding period last year. Total gross profit margins have increased to 82% from 77% for the same period last year.
Administrative expenses of £7.50m include a full six months expenses of Easyspace Limited, which was acquired in September 2004, and reflect the expansion of the web services business division.
The operating profit for the period was £1.52m (previous year £0.08m) and the net profit was £1.42m (£0.17m). Fully diluted earnings per share were 0.1.79p compared to 0.24p.
Cash balances at 30 September were £1.39m and net debt was £2,01m