Daisy Group interim results see revenues rise by 47% and profit up 65%

Daisy Group interim results see revenues rise by 47% and profit up 65%

Daisy Group, the unified communications provider, has posted a 47% rise in revenue to £176m (2010: £120m) for the six months ending 30 September 2011. Adjusted pre-tax profit (EBITDA) rose 65% to £26.6m, up from £16.1m in the same period in 2010.

The Group reported that it had achieved organic revenue growth in the period as opposed to boosting revenue via its acquisition programme. It said that all its 2010 and 2011 acquisitions were now integrated into the company. The company's most recent acquisition was Telinet, which it bought for £15.1m in April this year.

Contributions from the Group’s product set for its retail and wholesale customers are as follows:

  Six months to   Six months to
  30 September 2011   30 September 2010
Product segment £million % of total   £million % of total
           
Networks 73.8 42%   57.1 48%
Data 33.5 19%   22.4 19%
Mobile 51.2 29%   29.5 24%
Systems 17.5 10%   11.0 9%
  176.0 100%   120.0 100%

 

Daisy CEO Matthew Riley (pictured) commented: ‘We are pleased to report the results for this period, which have seen a healthy increase in market share, plus revenue and profit growth across all divisions and product areas, in spite of the difficult macro-economic environment. 

‘The business has continued to demonstrate strong cash generation and with all acquisitions integrated, significant synergies have been achieved. With an improvement in its revenue mix, the Group has continued to decrease reliance on traditional fixed lines and calls, with an increased proportion of revenues from its mobile, systems and data product sets.
 
‘The business is focused on driving further organic growth and continues to consider strategic acquisitions that provide clear value for shareholders. Notwithstanding the current economic climate, we are confident for the second half of the year.’

Written by Mobile Today
Mobile Today

Comments

Please wait...


Please write code to prove you're human