Cloud computing group Iomart (IOM) expects to report revenue growth of around 9 per cent for its March 2018 year-end, in line with consensus forecasts. Expected adjusted pre-tax profit of £23.9m, up 7 per cent on 2017, also meet market estimates.
362p
Segmentally, cloud services won a “substantial” amount of new business over the period – buoyed by the first full-year contribution from Cristie Data and new sales from Dediserve, Simple Servers and Sonassi, the three businesses acquired between May and November 2017.
Panmure Gordon notes that Iomart’s growth appears to have endured despite the progress made by the larger cloud providers; a trend the broker expects to continue.
