Nelson firm positive despite rise in bank debt

Daisy CEO Matthew Riley

Daisy CEO Matthew Riley

First published in News This Is Lancashire: Photograph of the Author by , Reporter

NELSON-based internet and telecommuincations company Daisy Group say they view the year ahead with “optimism and confidence” despite their bank debt rising by £33 million in the past 12 months.

Financial results for the company released this week show the company’s revenue has grown by 0.3 per cent from £351.5m to £352.7m.

Daisy, which is based on the Lomeshaye industrial estate, saw bank debt rise from £81m to £114m.

The firm sells internet and telecoms services, including hosting broadband connections to businesses around the world.

The company’s chief executive officer, Matthew Riley, is known to millions of TV viewers after Sir Alan Sugar enlisted his help in deciding the winner in the BBC series The Apprentice.

Daisy said it expected a final full year dividend to be 4.6p, a 15 per cent increase from last year.

Matthew Riley, 40, said: “We have made good progress. The acquisitions we’ve made are performing ahead of expectations and help to provide a better balanced product portfolio mix.

“We view the year ahead with optimism and with confidence in the cash-generating capability of our business.”

During the past year the group acquired Daisy Data Centre Solutions, MoCo Holdings, Indecs Computer Services and ABSE Limited.

Daisy Group chairman, Peter Dubens, said: “We are proud to have built a long-term, sustainable business and I would like to thank our staff for their support and hard work.

“We will continue to invest internally in addition to implementing further acquisitions.

“Our strategy is delivering results and we have built a strong business and have a solid foundation from which to develop even further.”

Comments

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree