Iomart revenue up 16% to £42.1m

Iomart CEO Angus MacSween

Shares of Glasgow-based cloud computing firm iomart group rose about 3.5% after it said its revenue grew 16% to £42.1 million and adjusted profit before tax rose 23% to £10.6 million in the six months to September 30.

Iomart said its cloud services operation continued to develop its relationships with the main vendors in the market including Microsoft, Dell/EMC and AWS (Amazon Web Services).

Its consultancy division, SystemsUp, was recently named as an AWS public sector partner for government.

“The public cloud vendors led by AWS and Microsoft continue to win market share and it is clear that they require an ecosystem of organisations, such as iomart, to provide services and support to the users of these public clouds,” said iomart.

Iomart CEO Angus MacSween said: “Trading in the first half of the year has been very good and we remain focussed on building our recurring revenues in line with our business model.

“We are uncovering an increasing breadth of opportunities to constantly grow that recurring revenue and remain confident in our future prospects.”