Group sees large hike in revenues and profits for the first nine months of this year, with all acquisitions now fully integrated
Unified communications provider Daisy Group grew revenues by 47 per cent to £176 million and profits by 65 per cent to £26.6 million in the first nine months of this year compared to the same period in 2010..
Daisy Group said revenues and profitability had increased across all its divisions and product segments largely as a result of the businesses acquired during the previous 12 months. All acquisitions in the past year have been successfully integrated into the Group.
Daisy Retail saw revenues jump from £89.5 million in the first nine months of 2010 to £128 million, representing 72.2 per cent of Group revenues.
The fastest growing product segment was mobile, which increased 131 per cent. Daisy Group said this reflected the substantial connections, sales and operational expertise that it gained from the SpiriTel and Outsourcery acquisitions.
Daisy Distribution grew revenues from £18 million to £24.2 million. Daisy Group said this was due to the operational benefits from acquiring Fone Logistics for £3.6 million in June 2010.
Revenues for the wholesale division increased to £23.8 million from £12.5 million following the integration of the Murphx data business, the acquisition of O-bit Telecom and also the introduction of the mobile solutions product set.
Daisy Group CEO Matthew Riley (pictured) said: “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.”