SCOTTISH cloud-computing specialist Iomart has said revenue growth is in line with expectations, citing the winning of larger, more complex contracts, in a trading statement.
Angus MacSween, chief executive of the Glasgow-based company, said new customer wins in its core cloud services are growing in the pre-close trading statement for the six months ended September 30, 2019, ahead of the announcement of its half yearly results.
The company said the board is “confident in the outlook for the full year and beyond” in the statement to the London Stock Exchange.
READ MORE: Glasgow cloud computing specialist eyes acquisitions after growing profits
Its on-premise IT brand, Cristie Data, has also delivered a strong performance in the half year, Iomart said, bringing new corporate customers into the group, with the potential to transition to higher margin managed cloud services revenue in the future.
Mr MacSween said: “It is pleasing to see the increased investments we have made in sales and marketing begin to deliver positive results.
“New customer wins in our core cloud services offering are growing, supported by growth from the on-premise business which highlights there is still a long way to go on the cloud journey.
“We are confident we are on track to take advantage of the positive market opportunity and look forward to another successful year of growth.” The firm earlier flagged expectations it could double revenues to £200 million over the next five years.
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