UKFast hits £53m revenue ahead of IPO

Lawrence Jones

Manchester-based cloud hosting firm UKFast revealed on Monday it is on track to deliver more than £53 million revenue in 2018 ahead of a potential IPO.

That’s a 13% increase on the £47 million declared in 2017.

The firm is also forecasting that its adjusted EBITDA is expected to exceed £25 million for the year, an increase of 19% on the £21 million reported in 2017.

UKFast has grown its team to around 350 and is actively recruiting.

“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 per cent of overall revenue,” said UKFast.

“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: “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.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.