30th Sep 2015 08:40
LONDON (Alliance News) - Cloud computing company Iomart Group PLC on Wednesday expressed confidence in its full-year outlook, as it said it traded in line with expectations in its first half.
The company said that it has continued to perform strongly in the half year to end-September, with revenue and profits expected to be materially ahead of the previous year.
The cloud consulting business it acquired in June, SystemsUp Ltd, has strengthened the company's public cloud strategy, it said. It is continuing to seek further acquisitions, having secured a substantial additional funding package in July which takes its total bank facility to GBP60 million.
"We are very pleased with the way the business has performed in the period, and the board is highly confident in the future. The group is well positioned to sustain its competitive advantage within the hybrid cloud market with its strong customer base and growing expertise in private cloud. With an outstanding track record and an established reputation as the UK's leading cloud computing company, we believe the prospects for Iomart continue to be excellent," said Chief Executive Officer Angus MacSween in a statement.
Shares in Iomart were up 6.3% at 275.92 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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