Glasgow-based cloud computing firm has seen annual sales top £100 million for the first time after a strong finish to 2018.
In a trading update for the year to 31 March, the company said it expects to report that revenue grew to around £104 million from £97.7 million the previous year. Adjusted profit before tax is expected to rise to £25.3 million from £24 million.
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The company, led by chief executive Angus MacSween, said the second half of the financial year saw an increase in new lead generation from both new and existing customers on the back of moves to improve its sales and marketing function.
MacSween said: “Iomart has delivered yet another year of growth with strong profitability and cash flow underpinned by our recurring revenue business model, diverse customer base and attractive market position.
"The group's large and building sales pipeline, combined with high levels of visibility and a significant market opportunity, leaves the board very confident in the outlook for the new financial year, as well as the long term prospects for the group.”
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The company said moving to cloud-based services cloud adoption remains a long term trend and “as a result, our market opportunity is large and widening”.
“We continue to invest in our cloud product offering, skills and organisational platform to ensure we are positioned to capitalise on this opportunity.”
The group expects to report its results on 11 June.
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