Managed hosting services supplier Daily Internet says that its figures to March 2014 are slightly ahead of expectations.
Cloud hosting services provider Netplan will be included for just over four months and revenues of £2.3m are anticipated. There will be a loss of more than £200,000. The final figures will be announced on 30 June.
House broker Sanlam expects Daily Internet to capitalise on the growth of the Cloud services market and accelerate its rate of growth. The group is already profitable on a month by month basis. A full contribution from Netplan and Namehog will help boost revenues to £4.25m in the year to March 2015 and Daily Internet should move into profit.
Sanlam forecasts a £400,000 profit in 2014-15, rising to £580,000 the following year. At 1.88p a share, Daily Internet is valued at £8m. The shares are trading on 27 times prospective 2014-15 earnings, falling to 17 the following year. Further earning enhancing acquisitions could make the multiple decline more quickly.
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