Daily Internet PLC expects improved earnings and revenues

2016-04-05 07:03:29

(MENAFN- ProactiveInvestors - UK) Daily Internet PLC (LON:DAIP) expects to total revenues to jump to around 4.7mln for the year to March up from 3.9mln in 2015.

The cloud integration services company also expects adjusted earnings (EBITDA) to grow by more than 50% compared to the previous year.

The web hosting business performed well generating revenue growth of around 30% over the previous year while there was also more spent by clients as they sought to outsource their IT services.

This division became the focus after a reorganisation of the mass market SME (small and medium enterprises) business.

"We have delivered on all of our objectives for the 2016 financial year. We are seeing our order book grow and believe we are well positioned to benefit from the increasing adoption of cloud delivered services and additional non-organic growth opportunities' said chief executive Chris Evans.

Daily Internet also paid the remainder of its outstanding convertible loan notes during the second half leaving the group largely debt free.

Shares were up almost 6% to 1.88p.

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