Iomart posts maiden profit

Congrats

By Tim Richardson • Get more from this author

Posted in Financial News, 17th November 2004 11:10 GMT

Free whitepaper – Thermal design of Dell PowerEdge server

Iomart - the Glasgow-based security and web services outfit - has notched up its maiden profit.

For the six months to the end of September Iomart increased revenues by 121 per cent as turnover hit £6.4m helping it generate a profit of £167,000.

The business-focused internet business now has 190,000 customers - 140,000 of which come from its acquisition of web host outfit Easyspace for £10.5m in September. Iomart reports it is adding more than 1,700 new punters each month.

Small and medium-sized businesses (SMEs) continue to snap up Iomart's NetIntelligence security product, prompted by offers such as free broadband for a year, which it announced earlier this month.

Iomart has also recently launched a NetIntelligence product for the home aimed at families that use broadband. The company is looking to flog the product direct to ISP and telcos.

Said chief exec Angus MacSween: "The first half of the year has been rewarding with the successful acquisition of Easyspace and continuing organic sales growth in our web services business. We are adding more than 1,700 net new customers per month and now have 190,000 customers including around 140,000 from the Easyspace acquisition." ®