After reporting a 45% increase in revenue from datacentres, LOMAT, a webhosting service based in Glasgow that focuses on remote hosting and online information for businesses, issued a statement that predicts the economy from online businesses will continue to grow despite the recession.
LOMAT sold its business directory unit to BT last, allowing it to focus on online ventures, which according to chief executive Angus MacSween, is the one place where business will continue to thrive.
Subdivisions of LOMAT Easyspace and Hosting have also reported growth but MacSween said that businesses outsourcing their web duties are the main profit risers.
MacSween said that LOMAT aims to be one of the largest data hosting competitors in the coming years as the playing field levels out and several dominant webhosting services begin to take over the market.
Currently LOMAT is valued at £35.9 million with shares that closed at 37p a piece.
LOMAT did face a £1.2m loss last year which forced the sale of its business directory unit, but with the renewed monthly profits the company is expecting to turn over a much higher profit this year.
Founded in 1998, LOMAT has 150 people employed throughout various locations in the UK.
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