6 Daisy

Key points

Revenue: £675.7m (-1%)

Net profit margin: -21.1% Staff: 3,744

With founder Matthew Riley back pulling the strings, this telecoms, IT and cloud juggernaut has ditched its previous ‘One Daisy' mantra and instead moved to hand its constituent divisions more operational independence.

Accounts for the year to 31 March 2019 show flat revenue of £676m as the Lancashire-based firm hit pause on its M&A blitz.

Daisy's mid-market-focused Corporate Services unit, based partly on its 2017 Alternative Networks purchase, saw revenue drop from £277m to £252m. Its other direct-selling division, ‘SMB', contributed £136m to the top line, with its indirect Allvotec and Digital Wholesale Solutions arms generating £94m and £188m, respectively.

Daisy's preferred profit measure of EBITA was also flat, at £127.1m, although net losses widened from £97.3m to £142.8m as it ate an £88m amortisation charge and finance costs of £141m. Daisy secured £1bn in fresh financing from US investment firm Ares on 31 January 2019.