iomart: Year End Results, Record Revenues
AIM-listed cloud computing company iomart Group plc has today released it’s year end results for the 12 month period ending 31st March 2023 in which the group produced record revenues of £115.6m. This was boosted by the increased sales pipeline, as highlighted in the H1 results, being converted to sales in H2. Recurring revenues, although down one percentage point, remained very high at 92%.
Reece Donovan, CEO commented,
“This has been another busy year at iomart for the full team. Together, we have generated good momentum across both the commercial and operational areas. A higher level of M&A activity has also been pleasing to see, with two acquisitions having been completed in the last ten months.
These acquisitions have expanded our capabilities and routes to market, making our solution portfolio relevant to a wider audience. The increase in the effectiveness of our sales activities, the operational improvements made, the resilience of our business model and our clear focus on execution gives us a stronger foundation on which to accelerate organic growth whilst making selective acquisitions.”