Description of business:
Daily Internet plc is an established web hosting solutions provider focused on delivering a broad range of reliable, cost effective and scaleable web hosting services to small and medium sized businesses and individuals in the UK. Services such as domain registration, email and shared server web hosting services, online remote back up services, e-commerce solutions and virtual private server Services represent the Company's current business activities.
The main country of operation of the Company will continue to be the UK.
In early 2006 Abby Hardoon (Managing Director of Daily Internet plc) established Hostvue (UK) Limited, later renamed Daily Internet Services Limited, a wholly owned subsidiary of the Company. Daily Internet Services Limited developed the new software platform needed for modern Internet hosting solutions and billing systems, completely funded by Abby Hardoon. On 1 May 2007 the Company acquired the entire issued share capital of Daily Internet Services Limited in a share for share exchange and was admitted to trading on the PLUS Market on 10 March 2008.
The Group provides hosting services to more than 50,000 customers throughout the UK and is currently ranked as the 13th largest supplier of .uk domain registrations out of over 2,300 suppliers (source: Nominet). The Group has historically focused on mass-market web hosting products, which has driven a high recurring revenue model with 64 per cent. of customers currently bringing repeat business.
The Group's strategy is to achieve strong organic growth by maximising revenue opportunities through its current product range and the completion and implementation of its development programme. This will be driven by improving profit margins, whilst maintaining and increasing repeat customer business and continuing to focus on customer service and value.
In addition, the Directors intend to expand and develop the Group's portfolio of services by seeking complementary acquisition opportunities which will enhance market penetration and provide access to new markets as well as improve product usability and function.
Furthermore, the Board is considering a move into the ownership and operation of data centres as an addition to its current services. Accordingly, the Group will seek to identify and evaluate potential opportunities for space to create a data centre or look to acquire an existing data centre which it could utilise for its own purposes.
Daily Internet plc (the "Company" or the "Group")