Cash generators | Contract wins | Competition
News covered here includes excellent results from an investment management business, whose model portfolio service continues to attract plenty of new supporters, although competition is growing. Elsewhere, there were significant contract wins for two small companies in the healthcare sector, including one of our Bonkers Bargain opportunities. Read on here for this and other news. (Free to read)
A strong cash generator, but what about growth? Cloud computing company iomart (AIM: IOM), reported results for the year ended 31 March 2023. This company is a strong cash generator, but ongoing capital investment is also significant as we highlight below. Revenue in the year increased by 12% to £115.6m, reflecting a combination of improved customer renewals, organic revenue growth within core cloud managed services, inflationary pricing adjustments (primarily for data centre energy usage), together with a boost from an acquisition. The 5% fall in adjusted EBITDA to £36.2m and 13% fall in adjusted profit before tax to £14.8m reflects…