Daisy on track to meet full-year market expectations

VAR says customers of the 2e2 business it bought have reacted well to new owner

Daisy Group's revenue and adjusted EBITDA are tracking in line with management expectations, the firm said in an interim trading update today, prompting a six per cent hike in its share price.

The firm did not disclose exact figures, but said it feels comfortable it will meet market expectations for its fiscal year ending 31 March 2014 thanks to a flurry of new public and private sector managed services contract wins.

Following the collapse of 2e2, Daisy bought out its datacentre business and created Daisy Data Centre Solutions Limited (DDCSL) - an arm it said was also performing in line with its expectations. "There has been very good progress in signing new contracts with its former customer base," said the company.

Matthew Riley (pictured), Daisy's chief executive, said he was pleased with its half-year performance.

"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," he said.

"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 while still being able to invest to support our mid-market customers."