UKFast on Target to Break £50m Turnover

Funding | Growth | North West | Technology

UKFastCloud hosting firm UKFast has revealed that it is on track to deliver more than £53m revenue in 2018.

The result equates to a 13% increase on the £47m declared in 2017.

The firm is also forecasting its profit margins ahead of a potential IPO, with adjusted EBITDA expected to exceed £25m for the year, an increase of 19% on the £21m reported in 2017.

Significant recent investment in technical support and R&D has seen UKFast launch a number of successful products in the last year, alongside major developments within the firm’s flagship eCloud portfolio, which now accounts for 42% of overall revenue.

Delivering services into the public sector remains a strong area of growth following the acquisition last year of Secure IA, a public sector cloud and cybersecurity specialist.

UKFast CEO Lawrence Jones said: “It’s been an incredibly exciting period for UKFast. We are expanding our campus, launching a new AI and secure government data centre facility and developing some truly world-class new products to help our clients stay fast and stay safe online.

“By consistently focussing on innovation we are able to give our clients cost savings and an edge over their competitors.

“Whatever the outcome of Brexit we are resolute in our focus to deliver the best support in the industry. The team has picked up five major awards in only the last few weeks, which is testament to the hard work and passion that every one of them puts in to support our clients.”

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