British Cloud Computing Company iomart Group Sees Increase in Revenue and Pre-tax Profits
British cloud computing company iomart Group has seen a substantial increase in revenue and pre-tax profits. The increase was noted in the company's financial results report prepared for the London Stock Exchange for the year ending March 31, 2013. During the period, the company's revenue grew by 29% to £43.1M ($65M) producing a pre-tax profit increase of 56% to £10.7M ($16.25M). The company's adjusted EBITDA rose 48% to £16.5M (approximately $25M). In total, the company's revenues have increased 135% since March 2010, while pre-tax profit rose 970% and adjusted EBITDA rose 430%.
iomart Group plc, an approved G-Cloud iii cloud services supplier who is pre-approved to provide services to British government organizations, is a leading provider of cloud and managed hosting services in the United Kingdom. The company owns and manages its own physical infrastructure and fiber network. The company has a diverse customer base including the Royal Horticultural Society, organizers of the Chelsea Flower Show. The company purchased three hosting companies during the period - Skymarket, Melbourne Server Hosting and Internet Engineering Limited (or HostingUK). This increased the number of data centers it owns to eight. The company also made a major investment in fiber network and began increasing its Maidenhead data center capacity by an additional 600 racks.
"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," explained Angus MacSween, Chief Executive Officer of iomart Group. "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 data centers 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."
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