22nd Jun 2015 07:20
LONDON (Alliance News) - Daily Internet PLC Monday reported a narrowed pretax loss in its recently-ended financial year as revenue grew in both its Managed Hosting and SME Hosting divisions and it made two acquisitions.
The hosting and cloud infrastructure provider reported a pretax loss in the year to March 31 of GBP138,000, down from the GBP676,000 loss it made the prior year. Revenue grew by more than half to GBP3.9 million from GBP2.3 million, largely driven by the Managed Hosting division where sales more than doubled from GBP676,000 to GBP1.9 million, while revenue in the SME Hosting division rose 18.2% to GBP2 million from GBP1.7 million.
During the year, Daily Internet acquired cloud hosting providers Evohosting Ltd and Q4Ex Ltd, both of which have performed better than expected, it said.
"Trading post the financial year end has been in line with management and market expectations. Our pipeline of opportunities continues to grow and we are well placed to take advantage of the continued move to the cloud. We will continue to invest over the next 12 months in our network infrastructure, automated systems and internal processes and drive further operational efficiencies with the integration of staff and systems across our business units and offices.
I look forward to the year ahead with confidence," Chief Executive Chris Evans said in a statement.
Shares in Daily Internet were flat at 2.0001 pence in early trade on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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