UKFast sees revenue jump in H1

Manchester firm on course to hit £46m this year after seeing 18 per cent revenue growth in H1

Managed hosting provider UKFast saw revenue jump 18 per cent in the first half of 2017, taking its sales up to £22.9m.

The Manchester outfit claims the improved figures put it on course for revenue of £46m this year, up from £40m in 2016.

Announcing the improved figures, UKFast CEO Lawrence Jones said that the firm has defied Brexit uncertainty by posting a record quarter since the referendum, and also picking up its two biggest customers.

"Obviously with Brexit it was a nerve-wracking time working out what was going to happen after the decision, but ironically we had the best quarter we've had in the history of the company and two of our biggest wins - and also some of our biggest customers upgrading.

"I think that gave us a bit of confidence that, while there's a lot of uncertainty about how it will play out with Brexit, there is a good feeling in the British boardroom. Certainly our customers are expanding at a rapid rate - that's where we see our growth."

Jones shuffled the UKFast pack earlier this year, formalising its UKFast Enterprise unit as a separate arm of the business and appointing two managing directors.

The firm now employees over 400 people and has so far this year invested £4.1m in its infrastructure.

It is also set to double the size of its Manchester HQ later this year, moving into a 40,000 sq ft campus next to its current base.

Jones said that so far this year UKFast has seen a 50/50 split in where the growth is coming from, between new customers and existing customers growing their spend.

"It's a good balance for us and I'm really happy with the first half of the year," he added.

"We're over £47m now for the run rate which is positive as well, so I think we'll be on target for £48m run rate by the end of this financial year, comfortably.

"The biggest areas where we're putting in a lot of energy is government and public sector. The work within the government is growing very nicely and our reputation is growing nicely."