Iomart says market for cloud computing ‘large and long-term’
Cloud computing and web hosting company Iomart said the market opportunity for the business “remains large and long-term” as the Glasgow-based group updated investors on recent trading.
Releasing a trading statement for the six months to the end of September, the firm noted that overall revenue growth was in line with expectations, with “good visibility” heading into the second half of the year.
Iomart, which in June reported that annual revenues had surpassed £100 million for the first time, said that a reorganisation of its commercial operations was now starting to deliver more new customer wins and a “stronger pipeline of opportunities”.
It said a strengthening of its sales operation along with a broader mix of revenue in the first half meant that margin performance would be skewed towards the second half, as new orders start to contribute to revenue.