Daisy Release Preliminary Results

Daisy Group is pleased to announce its audited preliminary results for the year ended 31 March 2013.

Summary Audited Audited
Year ended Year ended
31-Mar-13 31-Mar-12
£million £million
Results from continuing operations
Revenue 351.5 348.6
Adjusted EBITDA* 56.3 56.3
Operating loss -16.8 -13.1
Basic adjusted EPS** 13.17p 13.52p
Basic loss per share (6.38)p (3.46)p
Cash generated from operations 47.6 29.1
Free cash flow*** 38.6 28.6
Net debt -81.2 -78

Matthew Riley, Chief Executive Officer of Daisy Group, commented “We have made good progress during the period, completing two acquisitions, with another onetransacted postyear end. In addition, the Group has continued to progress its organic growth strategy and has seen an improvement in cross-selling, with an increase in the proportion of customers taking three or more products.

“These results demonstrate the cash generating capability of the Daisy business with significant growth in our free cash flow generation. This has been recognised by our banking syndicate partners who have made available a significantly enlarged facility to assist with our continued acquisitive growth strategy.

“Reflecting our confidence in the cash-generating characteristics of the business moving forward, we are pleased to propose a maiden full-year dividend of 4.0p per share and to reiterate our guidance on expected dividend progression of 15% for each of the next two years.

“Notwithstanding ongoing macroeconomic headwinds, the Group is cautiously optimistic about the year ahead. With a strong balance sheet and a solid base of recurring revenues from an improved product mix, we are well positioned in these more challenging economic times.”

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David Dungay

Editor - Comms Business Magazine
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