Growth at hoster UKFast slows in 2013

Earnings before interest, tax, depreciation and amortisation rises to £8.2m

Manchester hosting provider UKFast has increased annual turnover 18 per cent to £23m for its 2013 year, of which £8.2m was EBITDA.

That's up slightly from its reported 2012 EBITDA of £7.9m, on a slower expansion trajectory than the company experienced in 2012, when it saw annual revenue rise 24 per cent.

Lawrence Jones (pictured), chief executive and founder of UKFast, said he had set a target of £20m in revenue at the start of its 2013 year.

"I am very pleased with our 2013 results. The past couple of years we've built three datacentres and acquired a new headquarters that is setting new standards in office design," he said.

Its new head office at Manchester Technology Park was purchased in January 2013 for £3.2m. The past year also saw the firm acquire the UK arm of US-based BurstNet.

"It's been a landmark quarter. The office is taking shape and the economy is gaining momentum," Jones said.