Iomart hikes dividend after 37% jump in profits

Cloud computing and web hosting specialist Iomart today said shareholders were in line for a 25 per cent increase in their final dividend as its posted a surge in annual profits.

The Glasgow-based group reported an adjusted pre-tax profit of £14.6 million for the year to 31 March, up from £10.7m a year earlier, on revenues 29 per cent higher at £55.6 million.

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Chief executive Angus MacSween said revenues had been lifted by a combination of organic growth and a trio of acquisitions in September, including the £23m purchase of disaster recovery firm BTL.

MacSween added: “With our growing reputation and ongoing investment in leading edge technologies alongside our own development skills, we are well positioned for further significant growth. I look forward, once again, with confidence to the year ahead.”

Iomart proposed a final dividend of 1.75p a share, to be paid on 2 September, up from 1.4p last time.