31st Mar 2014 09:01
LONDON (Alliance News) - Daily Internet PLC said Monday that its newly acquired internet infrastructure service provider Netplan Internet Solutions Ltd has won a new contract with an existing US-based customer worth around GBP160,000 per year.
Daily Internet acquired Netplan in November 2013 for GBP2.5 million, funded by a GBP3.0 million share placing. It said that Netplan's revenue growth following acquisition has been ahead of its expectations due to new customer wins and larger contracts with existing customers.
Daily Internet said it had also been able to rationalise costs across the enlarged group after the acquisition, which led to reduced overheads and improved earnings before interest and tax.
"We are delighted that Netplan is performing well, and its pipeline of opportunities gives us confidence in its continued strong growth," said Managing Director Abby Hardoon in a statement.
Shares in Daily Internet were trading up 12% at 2.24 pence Monday, the third biggest gainer in the AIM market.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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