Business Insider names cloud hosting leader in its Top 500
iomart Group plc (AIM:IOM), one of the UK’s leading providers of cloud computing and managed hosting services, is delighted to announce that it has been named as one of Scotland’s Top 500 companies by Business Insider magazine.
iomart had previously been featured in the Scottish business magazine’s SME300 listing of the best performing small and medium-sized enterprises but has now moved up into the Top 500 – in 399th position – after the Group’s turnover exceeded £20m.
Angus MacSween, CEO of iomart Group plc, said: “We are delighted that iomart has been recognised as one of Scotland’s best performing large companies. 2011 was another good year for us and we envisage continued growth in 2012 as more organisations turn to cloud services and look for trusted hosting partners to deliver them.”
The Business Insider survey reports that “Scotland’s Top 500 companies have made a dramatic recovery ….with a huge rise in profits and a healthy increase in turnover” and points to the fact that overall 462 companies made profits this year compared to 437 in 2011 and just 432 in 2010.
The Business Insider ranking is calculated using a computation between annualised turnover and pre-tax profit. The cut-off point for inclusion of company financial information was November 28, 2011.
In its annual results for the year ending 31 March 2011 iomart Group plc (AIM:IOM), announced that revenue had increased by 38% to £25.3m and profits were up by 618% to £2.8m.
iomart Group plc was named Scottish Digital IT Company of the Year 2011, was a finalist at the 2011 National Business Awards sponsored by Orange and is ranked as one of the top 25 cloud services providers in the world.