Iomart Reports Solid Growth and Optimistic Outlook

Iomart Group plc (GB:IOM) has released an update.

Iomart Group plc has reported a revenue increase of 10% to £127.0m for FY2024, supported by strategic acquisitions and organic growth in cloud managed services. Despite a challenging economic environment, the company has achieved solid profitability with adjusted profit before tax growing by 1% to £15.0m, and is poised for future growth with a clear strategic vision centered around expansion and enhancing their cloud services offerings. The company also reported strong cash generation and a robust balance sheet, which underpins its confident outlook for the long-term prospects of the cloud computing market.

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