Iomart Web Hosting Boosted Growth in Revenue by Adoption of Cloud Computing

Iomart Web Hosting Boosted Growth in Revenue by Adoption of Cloud Computing

Iomart Web Hosting Boosted Growth in Revenue by Adoption of Cloud Computing

Greatresponder.com on Nov 28, 2012: Iomart Web Hosting, announced a positive set of consolidated half yearly results for the period ended 30 September 2012 boosted by adoption of cloud computing. Operational highlights for the previous six months included the purchase of three web hosting companies, including Melbourne Server Hosting in Manchester, and the investment in a high-speed, resilient UK fibre network connecting its seven data center locations.

The Group also announced plans to add another 1486 m² (16,000 ft²) of capacity to its data center in Maidenhead to ensure the continued supply of high quality data center space. This will be fitted out to a high specification over the next 12 months.

Angus MacSween, CEO of iomart Group plc, said: “This has been another excellent trading period for iomart, delivering substantial growth both organically and through successful acquisitions. Trading in the second half of the year has begun well as the trend to outsource more and more services and infrastructure into the cloud accelerates. We continue to invest in our skills, product sets and infrastructure to deliver an increasing range and depth of cloud services and expect to continue the growth we have recently enjoyed. We therefore look forward with confidence.”

The financial highlights are: 29% growth in revenue to £19.9m (H1 2012: £15.4m); 66% rise in pre-tax profits to £4.9m (H1 2012: £3m); adjusted EBITDA growth of 51% to £7.6m (H1 2012: £5.0m); and cashflow from operations increased by 54% to £6.4m (H1 2012: £4.1m).

 

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