UKFast reports 12% growth in revenue for 2018
UKFast has posted a 12% organic rise in revenue from £48.3m to £53.9m for the year ended 31st December 2018.
The audited accounts also show a 13.5% rise in adjusted EBITDA from £19.3m in 2017 to £21.9m, delivering a margin of 41%. The biggest growth area is the enterprise hosting division, with record wins across private and hybrid cloud environments, which now represent 43% of total sales.
Average headcount grew 23% to 365, with a particular focus on R&D and DevOps.
CEO Lawrence Jones said: “We continue to invest heavily in R&D, building the products our customers tell us they need. This, coupled with the hard work our team puts in every day, helps us to keep delivering double-digit growth.
“We also put a huge amount of effort into training and developing our teammates, investing in their growth, which is essential to ensure they provide the best possible support to our clients.
“As the demands of our customers evolve we are expanding our network globally, with new points of presence in Amsterdam, Seattle and Washington. The opportunities this investment gives us are hugely exciting.”
The year also saw UKFast take a minority private equity investment from Inflexion Private Equity, handing over a 31.6% stake in newly formed holding company UKFast Group Ltd.