LONDON (Alliance News) - Cloud computing firm Iomart Group PLC Tuesday said it looks forward with confidence for the year ahead, as it reported a rise in profit in its most recently ended financial year.
For the year to end-March, Iomart, which supplies cloud infrastructure and services, reported a pretax profit of GBP13.0 million, up from GBP10.8 million the previous year, as revenue rose to GBP76.3 million from GBP65.8 million.
Revenue growth was boosted by acquisitions Systems Up Ltd, bought in June last year, and United Communications Ltd, bought in November, as well as a full-year contribution from ServerSpace which Iomart acquired in December 2014.
Iomart said it continues to look for businesses that fit its criteria with a view to making further acquisitions in the year ahead.
The company will pay a final and total dividend of 3.15 pence, up from 2.50p the previous year.
Iomart said that, since the year end, its trading remains good and in line with market expectations.
"The long-term opportunity is bigger than ever. The investments we have made in our staff, skillsets and industry relationships mean we are well positioned to take advantage of that opportunity and to deliver further significant growth," said Chief Executive Officer Angus MacSween in a statement.
"I look forward, once again, with confidence to the year ahead," MacSween added.
Shares in Iomart were up 4.1% at 277.62 pence Tuesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Iomart (IOM)