Daisy Group has posted a rise in revenue of 0.8 per cent to the year ending March 31. Its latest accounts revealed that revenue stood at £351.5 million for the 12-month period.
While the group remains cautious about the future, the positive trend has allowed the business to start to give its acquisition strategy some real thought.
Daisy Group has already benefited from acquisitions executed over the past four years, allowing it to reduce the dependence on fixed-line network services and provide extra capabilities for its customers. The news that its acquisitions have paid off has prompted the firm to continue to look out for the right opportunities in the future.
In the last financial year the company made two acquisitions. The first was audio-conferencing company Worldwide Group, which it bought in April 2012 for £28.5 million. Then, in January 2013, the firm acquired IP data provider The Net Crowd for £2.1 million.
It has certainly spent a lot on growing the business through acquisitions, but the choices have been carefully considered and have shown just how profitable a growth strategy that includes acquisitions can be.
Daisy Group's chief executive Matthew Riley commented on the company's position: "We have made good progress during the period, completing two acquisitions, with another one transacted post-year end. In addition, the Group has continued to progress its organic growth strategy and has seen an improvement in cross-selling, with an increase in the proportion of customers taking three or more products.
“Notwithstanding ongoing macroeconomic headwinds, the Group is cautiously optimistic about the year ahead. With a strong balance sheet and a solid base of recurring revenues from an improved product mix, we are well positioned in these more challenging economic times." 
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