Rising profits boost Iomart’s appetite for making acquisitions

0
12

  • Investment
  • Europe
  • European Union
  • Global politics
Iomart, a Glasgow-based cloud computing provider, has a network of data centres Iomart, a Glasgow-based cloud computing provider, has a network of data centresEPA

Iomart is on the lookout for further acquisitions after reporting a 7 per cent rise in half-year profit and an increase in its interim dividend.

The Glasgow-based cloud computing and online services provider, which was listed on the junior Aim exchange in 2000, employs 400 people and has about 75,000 customers and a network of data centres.

Iomart, which has a long record of buying other companies, paid £4.9 million for Bytemark, a York-based cloud-hosting services business, in August. That was the only deal it completed in the six months to the end of September.

Revenue rose by more than 8 per cent to £50.9 million in the period, while underlying pre-tax profit rose by 7 per cent to £12.4 million. The interim dividend is…

Want to read more?Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month.Start your free trial

  • Investment
  • Europe
  • European Union
  • Global politics