Losses narrow at Daisy despite sales slump

Firm prepares for new life under private ownership

Telecoms player Daisy has managed to narrow its losses compared with last year as it counts down its final days on the London Stock Exchange.

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 a fraction to £67.4m. Revenue came in at £169.6m, a 2.5 per cent slump on last year's figure, according to the unaudited figures which were released earlier this week.

The company did not provide any further commentary as part of the results statement.

Before Christmas, a quartet of Daisy directors announced their resignation as the firm prepares to go private. Throughout the autumn, Daisy chief executive Matt Riley and a pair of investors successfully engineered a £494m takeover of the firm, which will see it taken off the LSE later this month.

From February, Computacenter's managing director Neil Muller will become chief executive of Daisy as Riley moves to become executive chairman.