Daisy makes progress integrating acquisitions

DAISY Group, the telecoms and data services provider, is trading in line with expectations after a strong second half and has integrated six businesses it acquired last year.

In a trading update for the 12 months to March 31 the Nelson-based group said there had been a “material improvement” in underlying cash flow and earnings.

“During the period, in addition to the progress made on acquisitions, previously integrated businesses have traded in line with the group’s plan and strong synergies have been achieved,” said the company.

“As a result, the board is pleased to confirm that the results for the current financial year are expected to be in line with market expectations, with performance in the second half of the year significantly ahead of that seen in the first half.”

During the year Daisy acquired eight businesses including the Vodafone mobile services business of Bury-based mobile and data hosting firm Outsourcery in a deal worth £12m at the end of March.

Since the year end it has acquired the assets of the Telinet and Ipitomi businesses from London-based Niu Solutions in a deal worth a combined £15.4m in cash.

“Each of the six businesses acquired in the first nine months of the financial year to December 31 have now been fully integrated, including Spiritel and NEG,” said Daisy. 

“In addition, the integration of the more recent acquisitions is progressing to plan. All of the businesses acquired during the financial year are trading in line with original management expectations.”