10/8/2012 10:21:57 AM
Daisy Group hopeful of 'robust' Q3 performance
Unified communications business Daisy Group is expecting to improve its sales and cash position when it reports its half year results next month.
The company described the trading period, for the six months to 30 September, as 'robust... against a tough macro economic backdrop'. It added: 'The board is pleased to report a material improvement in the level of free cash flow generation following the working capital headwinds seen in the second half of the previous financial year.'
It added that net debt had increased following its takeover of Worldwide Group Holdings in April 2012 but said it was performing in line with expectations.
Matthew Riley [pictured], CEO of Daisy Group, said: 'We highlighted in June that the second half of FY12 had seen a lengthening of sales cycles together with some pressure on certain mobile connection commissions. As expected, these factors continued into the first half of this year. However, we remain confident in the group's trading outlook for the second half and its ability to generate significant free cash flow going forward.'
Editor: Graeme Neill