iomart, said it expected to deliver a “solid set of” financial results in a trading update this morning.
The Glasgow-based cloud services group, which also has offices in Manchester. said that it expected revenue to be up 10%, to £127m, while adjusted EBITDA was likely to rise 4% to around £37.5m.
“I am pleased with the progress achieved in the year, with the increasing strength of our offering reflected in good order growth. Our resilient financial results, extensive customer base and deep technical expertise continue to provide a solid platform for enhanced revenue growth over the medium term, from extended product solutions, focused sales and marketing activity and complementary M&A,’ said Lucy Dimes, CEO of iomart Group plc.
“Our three most recent acquisitions have all added recurring revenue growth in the post-acquisition period, and we see continued M&A activity as an important part of strengthening our overall capability and market growth plans. We continue to be active in the identification of targets which add skills, experience and capability to enhance our proposition, as we drive the business to be the UK’s leading secure cloud services provider.”
The acquisitions include Extrinsica, which was completed in June last year and Accesspoint Technologies, in December.
Elsewhere it said it had sen “good growth” in order bookings within its managed services business. However, there were “lower than expected customer renewal rates” in the second half of the year.
