Glasgow’s Iomart sees revenue grow 9% to £98m

Glasgow-based cloud computing firm Iomart Group plc said its revenue grew 9% to £97.7 million in the year ended March 31, with adjusted profit before tax up 7% to £24 million.

Iomart’s proposed total dividend for year will be 7.18p per share, an increase of 20%.

The firm completed three acquisitions during the year — Dediserve for €7.9 million, Simple Servers for £4.9 million and Sonassi for £11.8 million.

Iomart CEO Angus MacSween said: “We are delighted to report another year of excellent results, with increased revenues and profits and the completion of a number of acquisitions, augmenting the group’s customer base and skill set.

“Trading in the new year has continued in a similarly positive vein.

“Since we embarked on our current strategy in 2007, we have successfully executed on our growth strategy, growing revenues from £8m to nearly £100m.

“We strongly believe that the market for cloud computing solutions we identified at the time presents us with as much opportunity now as it did then and that, together with additional acquisitions, will allow us to continue to execute successfully on the strategy we put in place at that time.

“There is still a long runway of opportunity as the ‘IT as a service’ philosophy and delivery unfolds, providing us with considerable scope for long-term, sustained growth.

“We therefore look to the coming year and beyond with confidence.”