Scots cloud computing provider Iomart charges up business
Cloud computing and web hosting specialist Iomart has pointed to “significant and sustainable” market opportunities after flagging another year of solid growth.
In a trading update yesterday, the Glasgow-based group said it expected to report revenue growth of about 9 per cent for the year to the end of March.
Adjusted Ebitda of £39.8 million – up from £36.6m a year earlier – and adjusted profit before tax of £23.9m, up from £22.4m, are in line with market expectations, it added.
The firm said its cloud services operation had continued to win a “substantial” amount of new business over the year. It also benefited from the full- year contribution of Cristie Data, which was acquired in August 2016, and from the contribution of Dediserve, Simple Servers and Sonassi since their acquisition in May, July and November of last year, respectively.
Easyspace, which provides a range of services to small and micro businesses, is said to have performed in line with expectations, having con- tinued the organic revenue growth re-established in the prior year.
Iomart chief executive Angus Macsween said: “Iomart has delivered yet another year of consistent growth. With a significant and sustainable market opportunity ahead of us, we continue to invest in our business and people to ensure we are well positioned for future growth.”