Glasgow cloud-computing company Iomart is ‘proactively managing’ energy inflation amid…


Release of annual results in accordance with Numbers marked in Aprilthe company said it continues to benefit from a “robust business model” that delivers a high level of recurring revenue, which accounts for 93 percent of group revenue.

A fall in total revenue to £103m last year from £111.9m reflected lower one-off equipment and consultancy sales and lower subscriber retention rates earlier in the year, which have since returned to normal levels.

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Managing Director Reece Donovan said that in the first two months of the new financial year, the group developed in line with expectations.

He noted that while some companies are cutting spending, IT delivery remains a high priority when migrating computing services to the cloud.

Energy price inflation is “proactively managed” through price increases for customers, while the company employs hedging options to “protect customers and our…

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