Communications firm Daisy Group has revealed the ahead-of-schedule integration of five recent acquisitions will allow it to bank £17m in "annualised synergies" this year.
In a pre-close trading update for the 15 months to the end of March, the Lancashire-based firm claims results "are anticipated to be in line with market expectations". Daisy added that the integration of acquisitions Eurotel, AT Communications, Vialtus Solutions, Redstone Telecom and Freedom4 Group, which Daisy scooped in a reverse takeover last summer, has been "completed slightly ahead of schedule".
The integration process for more recent buy-outs Managed Communications and BNS Telecom is on track, and "each of these businesses is trading in line with expectations", according to Daisy. The company added that the acquisitions have given it "a strong mix of data, mobile and VoIP capability to add to its traditional product set".
An expanded customer base has provided a number of cross-selling opportunities, said Daisy. The firm's chief executive Matthew Riley claimed his firm was still focused on achieving organic growth targets.
"It has been an important period for Daisy Group," he said. "The completed acquisitions increase the strength and improve the future prospects of Daisy, providing a comprehensive product portfolio and considerable cross-selling opportunities to our enlarged customer base.
"Despite the significant M&A activity the management team has remained focused on hitting its performance targets, as will be reflected in our results. We look forward to the financial year ended 31 March 2011 with confidence."
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