Shares in website-hosting firm Iomart leapt this morning after it said revenues and profits were “substantially ahead” of last year.
In a pre-close trading update before its half year results, the Glasgow-based company said it was confident that its financial performance for the full year would be ahead of market expectations.
Looking further ahead, it added: “We believe cloud computing will continue to be critical to all companies over the next few years, as corporate budgets continue to support online strategies, and the move to a hosting environment which delivers significant cost savings and flexibility becomes more compelling.
“The market potential remains substantial as it is estimated that while there has been a strong increase in hosted services in recent years, approximately 85 per cent of all servers are still located at a company’s own premises.
“We will continue to pursue further opportunities for acquisitions of quality, high margin businesses which make a contribution to group profits.”
Its shares were around 8 per cent higher in morning trading.