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Daisy Reshuffles as it Prepares for a Post Stock Exchange Life

In the wake of Daisy Group being taken private by Current CEO Matt Riley four Directors have resigned as the company prepares for a life away from the stock exchange. Peter Dubens, Christina Kennedy, Laurence Blackall and Ian McKenzie have resigned as directors of the Company with effect from the end of last year.

Matthew Riley, current CEO and now Executive Chairman of Daisy commented “I would like to thank Peter, Christina, Laurence and Ian for the contribution they have each made to Daisy’s successful execution of its acquisition-led strategy since its Admission in 2009. The guidance and support they have given during this period has helped to deliver shareholders 185 pence per Daisy Share under the terms of the Offer, compared to the placing price in July 2009 of 80 pence per Daisy Share, an increase of 131.3 per cent. I wish each of them every success in their future ventures.”

Matt Riley is soon to hand over the CEO role to Neil Muller in February, Muller commented “The converging world of telecommunications and IT represents a host of exciting opportunities and Daisy is in a prime position to evolve and to adapt its existing capabilities, addressing new market dynamics and mid-market customer needs.”

Over the Christmas period Daisy released unaudited interim financial results. For the six months to 30 September, the firm’s loss after tax shrank to £9.8m compared with £10.1m for same period a year ago, although gross profit over the same period rose slightly to £67.4m.

Revenues were £169.6m, 2.5% down on last year’s figure, according to the unaudited figures which were released last week.

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David Dungay

Editor - Comms Business Magazine