Daisy Group to double turnover to £500m

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Daisy Group reckons it will double turnover to £500 million by 2014 through further acquisitions and organic growth

Daisy Group chief executive Matthew Riley told Mobile News the firm expects revenues to hit £270 million by the end of this financial year, incorporating the new £27.3 million acquisition of service provider SpiriTel, and £310 next year.

The £500 million figure is achievable within two-to-three years, said Riley.

At the same time, Riley suggested Daisy will slow its acquisition rate and focus on strategic purchases and business integration through 2011.

He said: “Last year was a one-off in terms of being able to buy assets at very low prices. SpiriTel is a very well run business and is larger than some of the other deals we’ve done before.

“That’s not to say we won’t take opportunities if they arise but we’re now looking at strategic assets to buy. We raised £75 million in June and this is the first money we’ve spent from that.

“Our plan is to consolidate the market further but it will be a more strategic consolidation, taking out things that are really complimentary to our business. Our ambition is to achieve revenues of £500 million over the next two-to-three years.”

Riley suggested the cross-selling opportunity within Daisy is considerable, and said it is established as the UK’s leading unified  communications provider. He said rivals in the space cannot live with its scale, portfolio, channel reach or ambition.