Iomart Group Plc : Cloud Services Boost Iomart Group Plc Revenues By 135% Over Last Three Years

iomart Group plc (AIM:IOM), the UK cloud computing company, has revealed another big increase in revenue and pre-tax profits in its annual results report to the London Stock Exchange.

For the year ending March 31 2013, iomart Group revenue grew by 29% to £43.1m (2012: £33.5m); pre-tax profit increased by 56% to £10.7m (2012: £6.9m); and there was a 48% rise in adjusted EBITDA to £16.5m (2012: £11.2m).

In his review, iomart's chief executive reflected on the last three financial years. Since March 2010, when iomart Group reported its first year of profit, revenues have increased by 135%; profit before tax by 970%; and adjusted EBITDA by 430%.

Angus MacSween said: "Whilst we are clearly extremely pleased with the development of the company over that period, we believe we are still in the early stages of providing solutions to the cloud computing market and are confident that we can continue to grow our operations significantly over the coming years."

iomart Group acquired three hosting companies during the year - Skymarket, Melbourne Server Hosting and Internet Engineering Limited (trading as HostingUK) - increasing its datacentres from five to eight and giving it a physical presence in the North of England and North Wales.

iomart also invested in a resilient fibre network and has commenced work on increasing its Maidenhead datacentre capacity by a further 600 racks to pre-empt future demand for data storage.

Angus MacSween continued: "The market we address is growing and evolving. Mobile technology has changed the way we access the internet and this new borderless access model means the only way to deliver services securely and efficiently is from central points through the cloud. Our datacentres are at the heart of this and with our growing credibility and strength we expect to be able to penetrate further into the corporate environment."