Daisy Wholesale is gunning for growth with plans to increase turnover to £70m by 2012.
The growth will be driven organically, marking a significant shift from the company¹s aggressive ’buy and build’ strategy that saw it snap up murphx in 2009, Your Network Solutions and Cole Robert & Co in 2010, and O-bit Telecom in February this year.
Three new directors have been taken on to drive sales turnover from £53m to £70m by the end of the current financial year.
The new directors are sales director Garry Growns, formerly MD of ImperaData; operations director Paul Richens, formerly operations director at O-bit Telecom; and finance director Frank Chapman, former consultant and CFO for RAM Mobile Data.
Daisy Wholesale MD Carl Churchill said the company aims to deliver organic growth by cross-selling into a base of 1,000 resellers built largely through acquisition.
Speaking to Mobile, he said: ‘We now want to see our sales increase from £53m to £70m by the end of the current financial year, which is why we have bolstered our management team with three new directors.’
He added: ‘We want to put our focus back into the business rather than buying lots of new companies we have 1,000 unique resellers, a complete portfolio of services and a really robust way of helping our customers with new business, so we are now driving performance.’
Churchill said the company is not looking to build a massive reseller base.
‘It is not about having 2,000 resellers selling one product into their customer base. I would rather have only 500 buying three core services.’
Telecoms analyst Philip Carse of IS Research said the strategy reflected the evolution of the communications industry.
‘Daisy’s acquisitions have given it synergy, but longer term growth for the Group must come from cross-selling, particularly with the overall communications market not showing a huge amount of growth. That is the challenge.’