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December 3, 2015

iomart half-year revenue increases 16%

News: The company said it was a good trading period, driven by organic and acquisitive growth.

By CBR Staff Writer

Cloud computing firm iomart has reported growth in revenue and profit for the six months ending 30 September.

Revenue increased 16% to £36.4m, while adjusted pre-tax profit grew by 8% to £8.7m.

Adjusted EBITDA rose 11% to £15.5m, while adjusted diluted earnings per share from operations increased by 11% to 6.75p.

The cloud hosting operation delivered an overall revenue growth rate of 21% with a 10% organic growth rate.

iomart said the Easyspace segment performed as anticipated but without the estimated growth of Office 365 into the base, the shift to cloud will take more time than predicted.

iomart CEO Angus MacSween said: "This has been another good trading period for the Group, driven by both organic and acquisitive growth. The cloud market landscape that we occupy continues to evolve and with that, the long term recurring revenue opportunities for iomart.

"We are well established as a major player in providing the flexible cloud solutions that businesses require, whether that be the private cloud, public or hybrid cloud spheres, and we are investing in expanding our teams of highly skilled staff to help our customers navigate and deploy a wider choice of solutions."

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iomart has recently acquired managed hosting firm United Hosting for about £11m.

Based in Hemel Hempstead, Hertfordshire, United Hosting provides managed, dedicated and shared hosting services and domains to about 6,500 customers.


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