Pendle telecom company posts strong results

editorial image

nelson-based telecommunications company Daisy has announced a strong set of results for the year to March 31st.

The Lomeshaye Industrial Estate company saw revenue grow by 98% from £134.4m. to £266.3m., with operating losses reduced from £21m. to £15.8m.

Adjusted EBITDA (earnings before interest, taxes, deperecation and amortisation) increased from £11m. to £40.7m.

Chief Executive Matthew Riley said: “This year has been a period of growth and further transformation for the Daisy Group. Growth in revenue, adjusted EBITDA, underlying earnings per share and free cash flow has been strong and has been achieved while we continue to invest in the future of the business.

“The acquisitions we have completed are already yielding significant strategic benefits, material financial synergies and have enhanced the breadth of our product offering for customers.

“Against an uncertain macro economic backdrop, we have delivered a strong set of results, with particularly robust levels of free cash flow. At the same time, our acquisitions have strengthened our product portfolio and positioned us well for future growth.

“Visibility across the group is improving and we face the financial year to March, 2012 with confidence.”