- Cloud computing company Iomart Group posted a 5.5% fall in first-half profit, though underlying earnings rose and it increased its dividend.

Pre-tax profit for the six months through September fell to £7.3m, as revenue rose 8% to £50.9m.

Adjusted profit, which stripped out one-off losses, grew 7% to £12.4m.

The company declared an interim dividend of 2.45p per share, up 8.9% on-year.

'The high levels of visibility within our recurring revenue business model and strong cost control provides stability to our trading performance for the second half of the year, ensuring the full year should deliver a similar overall year on year progression as we have reported in the first half,' chief executive chief executive Angus MacSween said.

'We remain very confident in the group's long term prospects.'

At 2:52pm: [LON:IOM] Iomart Group PLC share price was -1.75p at 348.25p

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