UKFast continues growth as sales top £50m

CEO Lawrence Jones says UKFast has expanded presence to Amsterdam, Seattle and Washington

Hosting provider UKFast has broken the £50m sales barrier, driven by growth in its enterprise division.

For the year ending 31 December 2018, the Manchester-based firm's revenue rose 12 per cent to £53.9m, it said.

Adjusted EBITDA rose 13 per cent to £21.9m - delivering a margin of 41 per cent.

CEO Lawrence Jones (pictured) said: "We continue to invest heavily in R&D, building the products our customers tell us they need. This, coupled with the hard work our team puts in every day, helps us to keep delivering double-digit growth.

"We also put a huge amount of effort into training and developing our teammates and investing in their growth, which is essential to ensure they provide the best possible support to our clients.

"As the demands of our customers evolve we are expanding our network globally, with new points of presence in Amsterdam, Seattle and Washington. The opportunities this investment gives us are hugely exciting."

UKFast hit a valuation of £405m last year, after taking on investment from private equity firm Inflexion, in exchange for a 31.6 per cent stake in the business. The move came after Jones decided against an IPO.

UKFast also launched a public cloud consultancy arm, ClearCloud.