June 22 (Reuters) – British telecoms firm Daisy Group Plc (DAY.L) posted a loss for the 15 months ended March 31, and said it agreed to buy broadband service provider MurphX Innovative Solutions for an initial cash payment of 4.8 million pounds ($7.1 million).
“The market environment remains difficult for smaller, sub-scale, operators and this will provide further acquisition opportunities for the group during the current financial year,” said Daisy Group, which was formerly known as Freedom4 Group.
The company added it looked forward to the coming financial year with confidence.
Daisy Group recently secured a banking facility of 75 million pounds and said the financing would support its acquisition strategy as well as provide additional working capital.
For the 15-month period ended March 31, pretax loss from continuing operations was 16.2 million pounds on revenue of 134.4 million pounds.
The company said it would be difficult to compare reported results for 2010 and 2008 due to significant acquisitions, disposals and restructuring that occurred during these periods.
Daisy Group was formed after British telecoms firms Daisy and Vialtus were reversed into AIM-listed Freedom4 Group in a 123-million-pound deal.
Shares of the company closed at 103.75 pence on Monday on the London Stock Exchange. ($1=.6775 Pound) (Reporting by Anirban Sen in Bangalore; Editing by Aradhana Aravindan)