Daisy Communications Ltd (Daisy) has announced significant growth and profitability following the publishing of its year end accounts.
The company’s accounts for the financial year to March 31st, 2007, show an increase in revenue of 48% and gross profit of 43%, based on the annualised results for the 15 months ended March 31st, 2006.
With an operating profit of £1.0m and a turnover of £23.6m, Daisy has continued with the rapid growth that it has traditionally experienced. This has been attributed to both organic development over the last year, as well as its continuing acquisition strategy, including Logicom Systems Ltd in 2006 and previous acquisitions in 2005.
The past 12 months has also seen the company strengthen its board, with the appointment of non-executive chairman Ian McKenzie, a former chief operating officer for BT’s Asia-Pacific region, and operations director Stefni Watson.
Matt Peters, finance director at Daisy, said: “2006/07 was a great year for Daisy. Financially we increased our profitability and strengthened our dominance in the fixed line communications market, both through organic growth in the traditional business partner and wholesale channels and through acquisition.
“This year there will a continued focus on these methods of growth with new product launches as well as further acquisitions planned for the coming months to add to the two acquisitions we have already completed since April.”
The growth in the last 12 months has been generated without a proportional increase in staff due to investment in automated systems. However as Daisy looks to progress with its expansion, with revenue expected to double over the next 12 months, and move closer towards its goal of floating on AIM, 2007 has been earmarked for further recruitment at Daisy.