iomart break through £100 million annual turnover mark

Angus MacSween, CEO of iomart Group plc
Angus MacSween, CEO of iomart Group plc

iomart the Scottish AIM listed cloud computing company has broken the £100 million turnover mark for the first time as it announces final results for the year ended 31 March 2019.

Revenue has grown 6% to £103.7m (2018: £97.8m), with profit before tax growth of 6% to £25.5m (2018: £24.1m).

iomart has operated in cloud computing for over 10 years after acquiring the initial datacentre estate in March 2007.

They also acquired two firms during the financial year namely Bytemark and LDeX, adding new customers and complementary datacentre locations

Angus MacSween, CEO of iomart Group plc, said: “These results represent another year of strong performance by the Company, with increased revenues, profits, cash flow and dividend levels. The demand for the products and services we provide continues to grow. Over the last 12 months we have reinvigorated our sales and marketing function which delivered a strong finish to the year with March, the final month of our financial year, recording the highest month of revenue in the year. We enter the new year with confidence, underpinned by a significantly larger pipeline of prospects than this time last year.

“The journey to Cloud adoption remains a long term trend and, as a result, our market opportunity is large and widening. We continue to invest in our cloud product offering, skills and organisational platform to ensure we are positioned to capitalise on this opportunity, and the Board is confident that strong growth will continue for many years into the future.” 

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