During that period, adjusted EBITDA rose from £68.1 million to £91.5 million, holdings company Daisy Holdco has reported.
That growth was in line with expectations following the acquisition of Aston (XLN) Topco and the strong performance of its corporate division’s MSP segment.
Revenue also climbed from £329 million to £417.2 million over the same timeframe. Additionally, operating profit more than tripled from £15.3 million to £48.5 million.
However, the group also posted a pre-tax loss of £98.7 million, reflecting a£49.8 million loss from discontinued operations, net exceptional operating costs of £1.5 million and net finance costs of £103.6 million, which increased following XLN’s acquisition.
Daisy Group was founded by chairman Matthew Riley (pictured above) in 2001. Through a combination of organic and acquisitive growth, the business has become one of the biggest communications, IT and cloud services providers in the UK and internationally.
The group operates through two divisions: Daisy Corporate Services (DCS), for the mid to enterprise market, and its Small to Medium Enterprises (SME) business.
Alongside organic growth within its DCS division, the group was boosted by strategic acquisitions for the SME division, including XLN Topco and Premier Choice.
Those purchases from FY22 were complemented by the acquisition of Communicate Better in May 2022. DCS also bolstered its cyber expertise with the acquisition of ECSC Group.
Looking ahead, Daisy said the market that it operates in continues to provide strong opportunities which it plans to meet through organic and inorganic growth. It is also looking at potential realisations where valuations are favourable, highlighting the sales of its DWS division to Inflexion in 2021.
Neil Thompson, chief executive, Daisy Group, said, “We’re delighted that Daisy has had another strong year, driven by constantly evolving our offering across cyber security, cloud and unified communications, and helping us deliver best-in-class digital experiences for our customers.
“Daisy’s successful acquisition of ECSC last year means we have added highly complementary cyber security expertise to our existing cyber and operational resilience operations. This will provide significant opportunities to extend deeper cyber security services into Daisy’s wider managed service customer base.”