Daisy Group to give first dividend

Telecoms firm Daisy Group has pledged to pay a maiden dividend next year after annual revenues increased on the back of its acquisition spree. The Lancashire-based firm, which provides telecoms services to SMEs, has shown rapid growth and made more than 20 acquisitions in recent years. Adjusted earnings before interest, tax, depreciation and amortisation rose from £40m to £56m, from revenues up from £266m to £349m. The diluted loss per share improved from 4.65p to 3.46p, with no dividend. Net debt is £78m but is set to rise further following Daisy’s £28m purchase of Worldwide Group.