Iomart leads the way for Scottish AIM companies

Iomart leads the way for Scottish AIM companies

Glasgow-based tech company Iomart is leading the way for Scottish AIM companies as investment into Scottish firms rose by 2.57% last year, according to new research.

The research by BDO LLP found there were 25 Scottish companies listed on the Alternative Investment Market (AIM) with a combined market cap of £1529.41m compared to £1491.09m at the end of 2014.

Although the overall market cap increased during the year, this was at a lower percentage than comparable UK markets with the exception of the FTSE all share which fell 2.5% during the year.

The biggest Scottish increase in market cap occurred at Iomart Group plc which saw its value rise £103.71m to £290.06m.

This puts Iomart, along with Scottish business support company Smart Metering whose value was £283.92m at the end of the year, just outside the top 50 largest AIM listed companies in the UK (The top 50 starts at around the £300m mark).

The company which recorded the largest increase in market cap by percentage was Pinnacle Technology whose value rose 205.5% to £9.95m; followed by Sigma Capital which rose 149% to £83.62m; and Castle Street which had an 83.4% rise to £23.49m.

Neil McGill, corporate finance director with BDO, said: "I think this has been a relatively good year for Scottish AIM listed companies.

“Given the difficult trading conditions for some of the markets such as oil and gas there has been a robust performance from the Scottish AIM portfolio.

“Nine of the 25 companies listed are worth more than £50m and three are worth more than £200m which is indicative of how substantial many of these businesses can become in a relatively short period.”