Cloud storage firm Iomart reports sky-high performance

As Iomart reports its first half results Graham Spooner, Investment Research Analyst at The Share Centre, explains what it means for investors.

“Organic growth and acquisitions have seen Iomart report a good set of first half results. Revenue grew by 16%, with operating profit growth of 11%.

“Investors should acknowledge that Iomart has boosted its capability to host hybrid and public cloud services. Investment and recent acquisitions have given it the platform to evolve and drive growth. 

“The shares have staged a good recovery since their disappointing half year results at this point last year, cementing our belief that the long term prospects have not fundamentally changed. We continue with our ‘buy’ recommendation for investors looking for capital growth and willing to accept a higher level of risk.”