Iomart to beat City hopes with ‘strong’ results

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.”