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December 9, 2014

iomart H1 revenue up 28%

Mainly driven by acquisitions and hosting segment.

By CBR Staff Writer

Glasgow-based web hosting firm iomart has reported a 28% rise in revenues to £31.5m during the six months ending September 2014. This rise was mainly boosted by acquisitions and revenue from its hosting segment.

During the period, the company reported a 44% rise in EBITDA to £14m, in addition to an adjusted profit before tax growth of 27% to £8m.

iomart CEO Angus MacSween said: "We have demonstrated a further strong performance as we continue to benefit from last year’s acquisitions of Redstation and Backup Technology, and we have made a good start to the second half of the year."

"The market opportunity remains large and long term and, in a fast moving and ever evolving industry we have the skills and experience to continue to perform well."

"Our focus going forward is on continuing to deepen our relationships with the large Tier 1 vendors and their growing trust in our abilities gives me confidence for iomart’ s prospects in the years ahead."

iomart acquired ServerSpace in a deal worth about £4.25m, which is claimed to be completed last week.

The company’s hosting segment reported a 37% rise in revenues to £26.1m, with the majority of the rise mainly down to the acquisitions of Redstation and BTL in September 2013.

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