Iomart eyes big data as their stock goes up and up
UK cloud service provider Iomart is centring primarily on big data having posted “strong and solid” figures for the last financial year.
Iomart this week announced a two-thirds increase in pre-tax profits, up to £6.9 million, and a one-third increase in revenue, up to £33.5 million, and according to marketing director Phil Worms the figures were in line with company expectations.
Worms used a football analogy to describe the results, telling Cloud Tech: “We’re delighted obviously, but as with anything you’re only as good as your last result, so we’re now focusing on the next set.
“It’s extremely positive, but the market expected us to deliver,” he added.
Concerning the idea of big data – the transferral of data which exceeds the capacity of conventional databases – Worms stated that it was the “next buzz word” and that it was going to affect everyone in the cloud industry.
He added that the growth was the result of data being generated “like a train”, and that “unstructured data [was] driving the growth”, such as music and video.
Worms also noted that Iomart’s “face-to-face driven” sales and marketing approach helped stand them apart from the pack.
“We’ve invested heavily in sales, used technology consultants – real humans,” he said, adding: “It’s been expensive and a different approach, but it’s one that’s paid off”.
Iomart had indicated in their report that the acquisition of hosting companies Switch Media, EQSN and Global Gold contributed to their results, with CEO Angus MacSween commenting that Iomart “would expect to make at least another two or three acquisitions in the next 12 months”.
He added: “This is another great set of results and shows that we continue to consolidate our position within the large, highly fragmented and growing UK cloud hosting market”.
Earlier this month Iomart was ranked in the top 20 of Talkin’ Cloud 100, the annual report on fast-developing cloud providers from analysts Nine Lives Media. The ranking was the highest of any non-US company.
So, how much further can Iomart go? To what extent will the idea of big data influence Iomart and other cloud providers this year?