Iomart Shares Up by 118%.

June 23, 2013
By

By Joanne Hart (from Mail Online.)

“Glasgow-based iomart is a true Scottish success story. One of Europe’s largest providers of cloud computing services, its profits have soared more than ten-fold since 2010.

We tipped iomart in November 2011 at 115p. Today the shares are 2503⁄4p and brokers believe there is still plenty of room for growth.

Iomart’s expansion reflects growing interest in cloud-based services, which enable companies to have all their internet-related activity managed by someone else rather than do it themselves.

Chief executive Angus MacSween has invested heavily in this area and now the investment is paying off. The company has more than 100,000 clients and the number is growing fast. Most are small firms, which pay £100 or so a year in exchange for email and basic website services.”

The rest of this article may be found here.

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