iomart turnover up 9% to £97.7m

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iomart, the cloud computing company, has boosted its revenue by 9% for year ending 31 March 2018.

Revenue has grown from £89.6m to £97.7m with adjusted EBITDA also growing 9% from £36.6m to £39.8m.

Adjusted profit before tax grew 7% from £22.4m to £24.0m.

During the year the firm made thee acquisitions including Dediserve for €7.9m, Simple Servers for £4.9m and Sonassi for £11.8m.

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Angus MacSween, CEO commented, “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.”

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