LONDON (ShareCast) - Cloud computing firm Iomart Group reported an increase in annual pre-tax profit and said it had started the current year strongly.
In the year to 31 March, the London-listed group posted an 11.3% rise year-on-year in pre-tax profit to £10.8m, while revenue climbed 18.3% to £65.8m, despite being dragged lower by a rise in depreciation and amortisation of acquired intangibles.

The London-listed group said revenue in its hosting division jumped 23%, although it lost a number of customers during the year, who endured funding difficulties or have dropped out of the markets altogether.

Excluding acquisitions, revenue in the hosting arm grew 9% year-on-year, while revenue in the easyspace division dropped 2% to £10.8m.

The company has lifted its final dividend to 2.50p, a 42.8% increase from the previous year.

Iomart, which added ServerSpace to its portfolio in December 2014 and on Monday completed the takeover of London-based IT consultancy Systems Up, said it was looking to secure further acquisitions this year.

"We are working hard to ensure we remain at the leading edge in terms of the skill sets and experience to provide an ever more complex set of services to our customers," said group chief executive Angus MacSween.

Iomart shares were down 4.31% to 222.00p at 10:14 on Tuesday.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE