Shareholders in iomart (IOM) will be encouraged by chief executive Angus MacSween's view that there is no reason for the web hosting and cloud computing specialist not to implement a "more generous" dividend policy. He has no concerns about the sustainability of the significantly higher payout - hardly surprising given a 22 per cent rise in operating cash flow.
The cloud services division registered double-digit revenue growth to £72.7m, primarily as a result of organic growth. Consultancy service SystemsUp struggled due to lack of recurring revenue, but Mr MacSween said the company would like to do more in the public sector in the future. In the Easyspace segment revenue grew by 22 per cent to £13.2m, thanks largely to the acquisition of United Hosting during the previous year.