Rack Pack Blog

There is a great deal of excitement surrounding this cloud computing company iomart.

Posted by Rack Packer - 26/11/09 at 03:11:15 pm

Well that’s something you don’t see very often, ‘exciting’ and ‘iomart’ in the same sentence. Yet this was how brokers Hoodless Brennan reacted to our half yearly results posted on Tuesday. In fact they were so taken with the figures, and our ‘exposure in a market in which they see significant upside’ that they advised their clients to ‘Hold’ onto their iomart shares.

So what exactly was it about our figures that sent these normally staid chaps reacting with such joyous words? Just to recap, we presented a set of accounts that showed a 47% increase in revenues to £8.4M, a profit of £1.4M (£0.65M loss Sept 2008) and a doubling in our managed hosting customer base in the 6 months to September 30 2009. Which given the current economic climate is not too shabby, not too shabby at all. We also announced our full integration of our earlier acquisition, RapidSwitch, and the introduction of our cloud hosting/computing service offerings – both of which have given the market confidence in our future profitability.

So how did the market react to our figures?

Overall, it is fair to state that the results were ‘in line’ with expectations and we didn’t disappoint. Our brokers, KBC Peel Hunt, have stated that they see ‘a maturing earnings profile for us from this point on with managed hosting set for further strong growth’. KBC have a ‘buy’ rating on our stock and a price target of 65 pence.

Likewise broker Daniel Stewart is bullish on our stock prospects with a target price of 95p. He thinks that we will continue to benefit from greater demand for data centre storage and from positive trends like the popularity of social media (and let’s hope his crystal ball proves bang on)

Most of the commentary, including a very nice piece from the BBC, simply focused on the CEO statements and the figures, with the end result that they were all pretty similar in tone and style. That stated there was one notable exception.

Step forward, Scotland’s own Herald newspaper and take a bow. A sizeable piece that contained some excellent quotes including this gem “changed its identity over the years more often than a triple agent in a Robert Ludlum spy novel.” To put this in to context however, the piece did qualify this statement with “the technology landscape has morphed dramatically in the past decade and, iomart has evolved with the times” and that “its most recent push into the world of managed web services – or cloud computing, as it has become known – may end up being its most astute move yet.”

We certainly couldn’t agree more (although the definition of cloud computing might not quite hit the spot with technologists). If you want to learn more the full results are here.

Our CEO - A top guy up for a top gong

Posted by Rack Packer - 20/11/09 at 04:11:00 pm

No it isn’t appraisal time or bonus round (we’re a managed hosting company not a bank after all), so I stand nothing to gain from this blog post other than a possible ‘WTF’ type phone call.

We have just received notice that our CEO, Angus MacSween, has been shortlisted for a top award – Entrepreneur of the Year and that several publications are currently running the usual potted career type biogs to accompany the story – and I see this very public expression of worthiness as the ideal opportunity to print a few facts about da man.

I also thought it relevant, in this week of the London Nude IT Entrepreneurs calendar launch euphoria, to mention that the entrepreneurial spirit, can and, does exist in publicly quoted companies.

Angus has been in business for more than 25 years and has bought and sold over 30 companies in that time.

His record demonstrates an aptitude to create businesses that capitalise on emerging technology and then sell them on to major operators.

Not bad considering his business empire was started with his £3,000 gratuity on completing his Royal Navy Commission in 1983. Angus set up a shop in Stirling selling alternative telephones to those offered by the then BT. The shop quickly expanded into providing installation and cabling services and even laid claim to selling the first handheld mobile phone in Scotland. Angus sold the venture for £60,000 in 1986.

Angus had established a business dialogue with BT and this provided opportunity for a host of new business ventures in conjunction with BT – including football information line ClubCall, WeatherCall, RaceCall and ShareCall, becoming the largest telephone information services businesses in the UK as well as owning seven overseas businesses in Hong Kong, South Africa, Spain, Denmark, Turkey, USA and Holland.

As this business grew, Angus also saw new opportunities in telemarketing using Voice recognition technology alongside live operators, winning key accounts such as Compaq, Microsoft, the Disasters Emergency Committee and the DVLA launch of the sales of private registrations in the UK. It also acted as the Share Information Office for most of the government’s privatisations. He was Sid.

He then acquired Prestel an online information division of BT, and turned it into one of the UK’s first ISP’s competing at the internet’s infancy against the likes of Demon and Compuserve. In 1996 Angus sold his business interests to Scottish Telecom (now Thus) for £12m. Angus stayed with Scottish Telecom for 18 months and was responsible for the development of its internet strategy culminating with the acquisition of Demon.

Angus started iomart in 1998 as a fully licensed Telco to provide ISP services and iomart was the UK’s first broadband (ADSL as it was then known) reseller through its Madasafish brand.

iomart Group plc floated in 2000 on the London Stock Exchange (raising £20M); our Telco businesses were later sold for £5m cash to Centrica and our online directory business was sold last year for £20m to BT. Ever the deal seeker, Angus successfully acquired 5 data centres for the Group in 2008 and bought RapidSwitch earlier this year.

We’re now focussed on building the UK’s foremost hosting company through our iomart managed hosting, Easyspace and RapidSwitch brands. His entrepreneurial spirit just never fades, and we quite frankly are delighted that it hasn’t.

Be great to see him rewarded next week…CEO we doff our caps!

 

 

 

 

 

 

 

 

 

 

 

Angus MacSween, CEO iomart Group Plc

New LDN Nude Tech Calender 2010 Video

Posted by Rack Packer - 16/11/09 at 10:11:14 am

Tonight’s the night…. and all (well most) is set to be revealed - the London Nude Tech Calendar will be launched tonight at Sway in Covent Garden. London Nude Tech 2010 is the brainchild of mature student, technology writer, party planner and all round top bloke Milo Yiannopoulos (the chap behind the Michael Jackson Moonwalk tribute at Liverpool Street station). The idea is simple, get 12 ladies and 12 men involved in the London tech scene to pose in the buff for a Woman’s Instititute stylie calendar and raise money for the Take Heart India charity. The calendar has attracted the support of some of London’s hottest talent and if you can’t make tonight - here’s a pretty cool taster from the team at Leap Anywhere.

Nude London Tech Calendar from Leapanywhere.com on Vimeo.

Good to Firm Going at Royal Ascot for the iomart Hosting boys

Posted by Rack Packer - 13/11/09 at 04:11:58 pm

Just received a final report from my colleagues Jim and James (or James² as they are known collectively) about yesterday’s Britannic Technologies Annual IP Convergence Summit (that rolls off the tongue?) held at Royal Ascot. First impressions are that they had a most enjoyable time.

The day billed as ’show casing the latest Unified Communications Solutions from a range of Britannic’s strategic partners’ started at a canter with several keynote speeches from representatives of such IT powerhouses as BT, Cable & Wireless, Mitel and CISCO. After a morning spent discovering  the joys, benefits and pitfalls of IP convergence across IP Telephony, Unified Communications, IP / Next Generation Networks, Data and Wireless Networking and business enabling applications, the delegates retired to Royal Ascot’s panoramic restaurant.

It was in this grand location that the delegates settled down for a bit of chow and the chance to chat to James² about all things hosting. The organisers had even kindly arranged for a spot of virtual horse racing…although judging from the smiles on the chaps faces there was nothing imaginery about the jockeys…(feel free add your own fine filly, jockey shorts, whip, on top type gags here…)

Feedback suggests that interest in managed hosting was particularly high in the area of Cloud Computing and Green type initiatives. All in all a great day was had by all and a big thanks to Britannic Technologies for organising it and inviting us along.

James² jockey for position as leading man

London Nude Tech Calendar set for Reveal

Posted by Rack Packer - 12/11/09 at 12:11:26 pm

After what seems an age, but is actually only some 10 weeks since Milo Yiannopoulos announced plans for the London Nude Tech Calendar (and that stat in itself says a huge amount about the efforts of everyone involved), the release date is imminent.

A tantalising glimpse of the final calendar, as befits a publication containing images of scantily clad men and women, will be revealed at a launch event on Monday 16th November.

The venue is the Velvet Room at Sway ,61 Great Queen Street, London, WC2B 5DA and the fun kicks off at 7.00 pm, with the event due to finish at 11.00 pm.

The organisers hope that as many folks as possible will be able to join the #LDnnudetech team, the models and the sponsors, iomart Hosting amongst them, for an exclusive preview of the pictures. It will be the only chance to see them before the printed calendars are shipped for sale.

All proceeds from the sale of the London Nude Tech Calendar will be donated to the Take Heart India , a youth run charity focused on practical education projects in India.

Sign up for the event here