Shares of Glasgow-based cloud computing firm iomart rose about 3% after it said its revenue rose 12% to £47 million and adjusted profit before tax rose 9% to £11.6 million in the half year to September 30.
iomart CEO Angus MacSween said: “The group has enjoyed another good period of trading in the first half of the year, with growing recurring revenues in line with our business model.
“The market opportunity remains significant and we continue to invest in our skills, infrastructure and capabilities to meet the evolving demands of the market.
“We are firmly on track to deliver another year of material growth and we remain confident in our prospects.”
iomart said it will pay a maiden interim dividend of 2.25p per share on January 31, 2018, to shareholders on the register on December 22, 2017.
MacSween added: “There is still a long term and large market opportunity in preparing and managing enterprises for transformation and deployment to cloud platforms.
“iomart continues to invest in the skills required to architect, migrate, manage, monitor, secure and scale private cloud, public cloud, and any combination of the two in order to capitalise on this significant opportunity.
“IT is increasingly evolving project by project, application by application, with a view to maximising value, not being locked into any one technology vendor, and being able to migrate services at will.
“This plays into the strengths we have established around agility and flexibility alongside the right expertise and infrastructure, with an ability to manage the mix of public and private cloud and hybrids of both effectively.
“Within the overall growth of cloud, eCommerce is one of the fastest growing areas. We have always had an exposure to the online retail market and we are building our expertise in this area to position ourselves as eCommerce cloud leaders.”