Iomart 'beating market forecasts'

Iomart, the Glasgow-based web hosting business, has flagged underlying profits ahead of market hopes after a "very strong set of results across its operating segments".

In a brief trading update yesterday, the firm said earnings before interest, tax, depreciation and amortisation for the year to 31 March were expected to be in the range of 6.4 million to 6.6m.

Chief executive Angus MacSween said: "Our strong trading in the year is evidence of our ability to capitalise on the significant growth in the managed services market."