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Growth continues at computing firm

Iomart to declare maiden interim dividend

Cloud computing firm Iomart plans to introduce an interim dividend as the business continues to expand.

The Glasgow-based company revised its dividend policy at the end of the last financial year because of its robust cash generation and low level of gearing.

“As a result, we increased our final dividend for that year by 90% to 6p per share. We now intend to introduce an interim dividend payment in this financial year and further details of this will be given with the publication of our half year results,” it said in a trading update ahead of half-year figures.

The board said the company has continued to perform well in the first half of the year, with trading in the six months ending 30 September 2017 in line with management expectations.  The business remains firmly on track to deliver another year of material growth. 

It said it has seen strong demand for its services as enterprises continue to move their services into the cloud.

In May the company acquired, Dediserve, expanding the geographical reach of its cloud operation. The business has performed well since acquisition, in line with management expectations.

“The market opportunity remains strong and we are well positioned to take advantage of it. The board is confident in the outlook for the full year and optimistic for continued success,” said the statement.

Angus MacSween, CEO (pictured), added: “The Group has performed strongly in the period as we consolidate our competitive advantage within the hybrid cloud market.

“There is growing demand from enterprises moving their services into the cloud and our reputation as the UK’s leading cloud computing company means we are ideally placed to service this demand.”

 

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