Daisy Group has to issued the following statement for the 6 month period ending 30 September 2013.
Revenue and Adjusted EBITDA is in line with management expectations at the half year point and the Group is comfortable in its ability to meet full year market expectations.
The Board is pleased to report that Daisy Data Centre Solutions Limited (“DDCSL”), the data centre business formerly owned by 2e2, is performing in line with management expectations and that there has been very good progress in signing new contracts with its former customer base.
In addition, within the core retail business there have been a number of managed service contract wins with public and private sector customers. These types of contract provide good quality cashflow over the span of the contract following a level of upfront investment.
During the period the Group has agreed new commercial arrangements with Vodafone that it believes will accelerate the growth of the mobile business. These arrangements provide an improvement in mobile margins over the long term but with a reduction in up-front commissions received from the network.
The Group will be announcing its results for the six months ended 30 September 2013 on 3 December 2013.
Matthew Riley, Chief Executive Officer of Daisy Group plc commented “I am pleased with the progress made during the period, particularly with the large managed service wins and the customer reaction to our acquisition of the hosting business DDCSL. We are very proud to be paying our first dividend following our acquisition strategy over the last few years and we reiterate our commitment to this whilst still being able to invest to support our mid market customers.”
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