More growth for Glasgow cloud computing firm iomart

Iomart CEO Angus MacSween

Glasgow-based cloud computing firm iomart Group plc said in a trading statement for the year ending March 31, 2018, that it expects to show revenue growth of 9%.

iomart said it expects adjusted EBITDA of £39.8 million, up from £36.6 million, and adjusted profit before tax of £23.9 million, up from £22.4 million, all in line with market consensus expectations.

The firm expects to report its annual results on June 12.

Angus MacSween, CEO of iomart Group, 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.

“We continue to see strong demand for our services and remain confident in our prospects.

“Our healthy balance sheet, high levels of revenue visibility and our strong and increasing cash conversion leaves us in good financial health.”