Iomart Group plc (LSE:IOM) has confirmed that Chief Financial Officer Scott Cunningham will leave the business after more than seven years to take up a position in a privately owned company outside the IT industry. He will stay on through the March 2026 year-end reporting process to support a smooth handover, with his board exit anticipated in June. The company has initiated a search for a successor.
The leadership update comes as the group reported softer trading conditions in December and January. Performance was affected by increased customer churn in certain higher-margin segments and growth that fell short of expectations, despite continued progress in Azure, security offerings and Microsoft 365 services.
While iomart continues to generate positive net order bookings and has implemented more than £5 million in annualised cost efficiencies, it now expects full-year revenue to be broadly in line with current market forecasts. EBITDA, however, is projected to come in slightly below the lower end of consensus expectations. The company said it remains focused on disciplined cash management within its existing banking facilities.
From an investment perspective, the outlook is constrained by financial pressures, including a move into loss-making territory, elevated leverage and weaker free cash flow. Technical indicators present a mixed picture, with some short-term support offset by negative momentum signals and the share price trading below its 200-day moving average. Valuation metrics are also mixed: a negative price-to-earnings ratio reflects current losses, while a notably high dividend yield may point to elevated risk.
More about Iomart Group plc
Iomart Group is a UK-based specialist in secure cloud managed services, deriving the majority of its revenue domestically. With more than 600 employees, the company supports organisations managing complex IT environments through cloud infrastructure, modern workplace solutions and managed security services.
Its capabilities are underpinned by partnerships with major technology providers, enabling delivery of hybrid cloud, data protection and cyber-resilience solutions tailored to enterprise and mid-market customers.
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