Today we’re all about family - our parent company iomart has announced its annual results to the London Stock Exchange for the year ended 31 March 2014 and it’s good news.
iomart announced that pre-tax profits are up 37% to £14.6m (2013: £10.7m) and overall revenue has grown by 29% to £55.6m (2013: £43.1m), with revenues from its hosting segment growing by 40% to £44.7m (2013: £32.0m). Adjusted EBITDA also increased 43% to £23.6m (2013: £16.5m).
iomart said the increase in profitability had been driven by both by organic and acquisitive growth. It now owns and operates datacentres in eight locations, including our DCs in Manchester, to support the delivery of cloud solutions.
Angus MacSween, Chief Executive of iomart, said:
“We continue to believe in the long term opportunity for iomart as IT spending moves towards the ‘cloud’, as networks and connectivity expand and mobility increases. Our vision remains to be the best in the UK at the delivery of compute, storage and network in the cloud in a seamless, efficient and scalable way.”