Cloud firm’s profits go sky high

British computing company Interoute saw profits more than double last year, driven by rising demand for cloud-based services.

The firm, which provides companies across Europe with telecoms and IT services, said profits rose 140 per cent to €18.4m (£15.9m) in 2012.

Revenues rose 12 per cent to €410m, which the company said was down to more companies buying its cloud storage services.