Daisy blossoms despite losses

Marion Dakers
BUSINESS telecoms and broadband provider Daisy widened its operating losses to £16.8m in the last financial year, but its shares rose 1.9 per cent as the firm flagged up its growth plans.

Aim-listed Daisy said it was hopeful that two recent acquisitions will help fuel expansion, a demonstration of confidence that came with a maiden full-year dividend of 4p per share.

Revenues rose 0.6 per cent to £351.5m while cash from operations almost doubled to £47.6m.

FinnCap analyst Andrew Darley said in a note the results were “in line with well-managed expectations”.