Cloud computer firm expanding
Iomart doubles dividend on growth prospects
The Glasgow-based company proposes a 90% rise in the final dividend to 6p per share (2016: 3.15p) after reporting a 17% rise in revenue to £89.6m (2016: £76.3m).
Adjusted EBITDA grew 13% to £36.6m (2016: £32.3m) while adjusted profit before tax was up18% to £22.4m (2016: £19.0m).
On a statutory basis, profit before tax rose 13% to £14.7m (2016: £13.0m).
Chief executive Angus MacSween (pictured), said: “This has been another year of strong growth and trading since the year end remains good.”
Hinting at further organic growth and more acquisition activity, he added: “The long term opportunity and runway for success remains large and long. Iomart remains well positioned to take advantage of that opportunity and to deliver further significant growth.
” I look forward, once again, with confidence to the year ahead.”
Acquisition of Cristie Data during the year for a net consideration of £0.7m
Acquisition of Dediserve post year end for a consideration of €7.9m
Further investment in skills and accreditations to support broadening service offering
Strengthened relationships with Hypercloud vendors