Iomart chief says web firm’s prospects ‘excellent’

Angus MacSween expects Iomart's first-half results to be ahead of last year

In a trading update ahead of the Glasgow-based group’s interim results, MacSween said revenues and profits for the six-month period ending today were expected to be “materially” ahead of a year ago.

He said: “The board is pleased to report that the business has continued to perform strongly in the first half of the financial year.”

MacSween said that Aim-quoted Iomart continues to seek further strategic acquisitions, having secured a “substantial” additional funding package in July from Bank of Scotland, bringing its total bank facility to £60 million.

He added: “The group is well positioned to sustain its competitive advantage within the hybrid cloud market with its strong customer base and growing expertise in private cloud.

“With an outstanding track record and an established reputation as the UK’s leading cloud computing company, we believe the prospects for Iomart continue to be excellent.”