UK Cloud Firm iomart Reports 23% Revenue Boost for Half Year

iomart Group plc, an UK and Europe’s cloud companies, announced a 23% growth in revenue in its consolidated half yearly results for the period ended 30 September 2013.

Revenue growth increased to £24.6m (H1 2013: £19.9m), while adjusted EBITDA growth rose by 29% to £9.8m (H1 2013: £7.6m), and adjusted profit before tax growth increased by 29% to £6.3m (H1 2013: £4.9m).

iomart reported continued organic growth which it enhanced with two acquisitions: Redstation, which provided an increased European presence in the dedicated server market; and Backup Technology, a provider of cloud backup and DR to the global enterprise market.

This activity, together with a full period contribution from acquisitions made in the previous period, resulted in an increase in the hosting segment revenue of 31% to £19.1m (H1 2013: £14.6m).

iomart chief executive Angus MacSween indicated that through increased investment in its data centre infrastructure and people, the provision of meaningful SLAs, and a specialist consultative approach, the group was now well-positioned to win more business from what he described as the ‘dripping roast’ long term opportunity provided by the corporate market’s increasing adoption of cloud services.

MacSween said: “Trading in the second half of the year has begun well and we continue to win business from new and existing customers. We remain confident of achieving another successful year of significant growth in line with the upgraded market expectations. We also continue to invest in our people and infrastructure as we evolve and grow. This will ensure we are well positioned to take advantage of the still largely untapped corporate cloud market, and further fuel the growth we have enjoyed in recent years.”