iomart, the cloud computing company, has reported its final results for the year to 31 March 2018, announcing a 9% rise in revenue.
The Glasgow-headquartered company saw revenues hit £97.7m and reported adjusted EBITDA growth of 9% to £39.8m.
Iomart’s recent success can be attributed to three successful acquisitions during the period. The company acquired Dediserve for €7.9m, Simple Servers for £4.9m and Sonassi for £11.8m during the year.
Angus MacSween, CEO of iomart, said: “We are delighted to report another year of excellent results, with increased revenues and profits and the completion of a number of acquisitions, augmenting the Group’s customer base and skill set. Trading in the new year has continued in a similarly positive vein.
“Since we embarked on our current strategy in 2007, we have successfully executed on our growth strategy, growing revenues from £8m to nearly £100m. We strongly believe that the market for cloud computing solutions we identified at the time presents us with as much opportunity now as it did then and that, together with additional acquisitions, will allow us to continue to execute successfully on the strategy we put in place at that time.
“There is still a long runway of opportunity as the ‘IT as a service’ philosophy and delivery unfolds, providing us with considerable scope for long-term, sustained growth. We therefore look to the coming year and beyond with confidence.”
In a statement, chairman Ian Ritchie said: “This has been another active year on the acquisition front as we have welcomed Dediserve, Simple Servers and Sonassi into the Group. The latter two acquisitions provide us with a high level of expertise in the provision of Magento hosting, which represents our first foray into the area of application support.
“We have started the new financial year in a strong position and I look forward to another exciting year of growth with considerable confidence.”
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