Iomart to beat City hopes with ‘strong’ results

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Web hosting and cloud computing specialist Iomart today said it was on track to beat City expectations when it reports annual results in May.

The Glasgow-based firm said it would deliver an adjusted pre-tax profit of about £14.5 million for the year to the end of March, up from £10.6m a year earlier.

It said its “very strong” results had been driven by new business wins at its web hosting business, which has also benefited from a pair of acquisitions in September.

Chief executive Angus MacSween said: “Iomart has enjoyed another year of good organic growth, buoyed further by our recent acquisitions.

“There is no doubt that we are seeing a long-term shift towards a cloud-dominated technology landscape, and we are well positioned to take advantage of that.”