The cloud computing group iomart expects a turnover of approx. 112 million GBP and a profit before tax of approx. 41.5 million GBP – both only slightly less than last year.
The pre-close trade statement for the fiscal year ended March 31st revealed that the third Covid-19 lockdown “hampered the green growth spurts we expected in the second half of the year and results were at the lower end of expectations”.
However, the group remains “highly profitable” and the board of directors is confident that iomart will have a basis for growth once confidence from UK companies returns.
The Glasgow-based group saw revenue growth in its core Managed Cloud Services business, despite an overall decline in the Cloud Services business, mainly driven by a decline in one-time hardware resale activities as customers delayed investment decisions.
It has maintained sales teams throughout the pandemic to “position the company in the best possible position” once business confidence returns – and has not …