Iomart profits rise as cloud-services revenues lifted by acquisitions
Source - SMW
Cloud computing company iomart reported a rise in pre-tax profits on higher cloud-services revenues amid a boost from by acquisitions.
For the year ended 31 March 2019, profit before tax grew 9% to £16.2m and revenue climbed 6% to £103.7m.
'Our Cloud Services segment grew revenues by 8% to £90.6m,' thanks to a 'full year contribution from Dediserve, Simple Servers and Sonassi, all of which were acquired at various points during the prior year, plus the current year acquisitions of Bytemark in August and LDeX in late December contributed to the overall growth rate,' the company said.
The company proposed a final dividend of 5.01p a share, taking the total dividend for year to 7.46p a share, an increase of 4% on last year.
'Over the last 12 months we have reinvigorated our sales and marketing function which delivered a strong finish to the year with March, the final month of our financial year, recording the highest month of revenue in the year,' said Angus MacSween, CEO of iomart Group.
'We enter the new year with confidence, underpinned by a significantly larger pipeline of prospects than this time last year.'
At 9:37am: (LON:IOM) Iomart Group PLC share price was -3p at 347p