Daisy acquisitions help keep profits in line with forecasts

Daisy acquisitions help keep profits in line with forecasts

Daisy Group has completed the integration of its recent acquisitions into its retail division, helping to keep its trading in line with market expectations.

In a trading update released today (7 October), the company says its management focus on the integration of three acquired business – Telinet, Ipitomi and Outsourcery – within the Group’s Retail Division has been completed successfully and all are working within the team without disruption.

The Group bought the trading assets of Telinet and certain trading assets of Ipitomi from Niu Solutions on 4 April, in a deal worth an estimated £15.4m, a week after it paid £12m cash to acquire Bury-based Outsourcery's Vodafone mobile service business.

The company says results for the six months ending 30 September will be in line with market expectations as a result. These will be announced on 30 November.

In its annual report for 2010/11, Daisy reported revenue grew by 98%, from £134.4m to £266.3m.

Last month, Daisy Group hired Andrew Wilson in the role of head of indirect sales as part of its rapid expansion, tasked with delivering multifaceted channel models for the firm.

His appointment followed Daisy Wholesale’s moves to launch a dedicated mobile pre-sales and bid support team as part of an aggressive push into mobile which has seen it double the number of resellers selling mobile solutions over the past four months and Daisy Distribution taking on Christine Slater as the company’s new operations director.

Joe Fernandez

Written by Mobile Today
Mobile Today


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