19 Daisy Corporate Services

Doug Woodburn
clock • 1 min read

Revenue: £198.9m (-12%)

Net profit: NA     Staff: 1,100

Built on a series of acquisitions including Phoenix IT Group and Alternative Networks, Daisy Corporate Services saw revenues fall by 12 per cent to £198.9m in its year to 31 March 2021. It is one of three remaining units of comms giant Daisy following its £1bn spin off of its Digital Wholesale Solutions arm in January 2021. Adding in the contribution of Allvotec and its SMB unit, Oakley Capital-backed Daisy generated total revenue from continuing operations of £417.1m, a nine per cent drop.

Covid impact

Even after receiving £5.9m in furlough support, Daisy saw adjusted EBITDA fall from £76.4m to £73m year on year as Allvotec - and to a lesser extent the Corporate arm - suffered from restrictions on their ability to carry out onsite installation work during lockdown. That said, Daisy claimed it "was largely protected from the more serious adverse consequences" of Covid, partly thanks to its high proportion of recurring revenue.

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