- Cloud computing company Iomart reported Tuesday adjusted profit before tax rose 7% in the year through March supported by strong cloud services revenue growth.

For the 12 months to 31 March, adjusted pre-tax profit rose 7% to £24.0m from £22.4m supported by a 9% growth in revenue to £97.7m from £89.6m. Adjusted earnings (EBITDA) rose 9% to £39.8m.

The uptick in revenue was mainly driven by strong growth in the cloud services segment, which saw revenues jump 10% to £84.1m from £76.3m the previous year as organic growth was supported by acquisitions made in the period and previous years. The company proposed a final dividend of 4.93p per share, taking the total dividend for the year to 7.18p per share, an increase of 20%.

'There is still a long runway of opportunity as the 'IT as a service' philosophy and delivery unfolds, providing us with considerable scope for long-term, sustained growth. We therefore look to the coming year and beyond with confidence,' the company said.

At 9:55am: [LON:IOM] Iomart Group PLC share price was -13p at 382p

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