British telecoms firm Daisy Group Plc posted a loss for the nine-month period and said it would cut jobs to integrate its acquired businesses but was comfortable with current market expectations.
The company, which recently completed acquisitions of five telecom businesses, said it would divest from its wireless businesses and was considering its options in relation to these.
Daisy Group, formerly Freedom4 Group Plc, said it was confident of the current market expectations for the 15-month period ended March 31, 2010.
The company also said it was comfortable with market view for the year ended March 31, 2011, which shows revenue of 225 million pounds ($371.3 million).
Daisy Group expects to reduce the number of employees to about 850 by the end of March 2010 from 1,150 at the end of August 2009.
For the nine-month period ended Sept. 30, pretax loss from continuing operations was 2.1 million pounds on revenue of 30.9 million pounds.
Daisy Group was formed after British telecoms firms Daisy and Vialtus were reversed into AIM-listed Freedom4 Group in a 123 million pound deal.
The company's shares closed at 96.50 pence on Friday on the London Stock Exchange. ($1=.6060 Pound) (Reporting by Purwa Naveen Raman in Bangalore; Editing by Deepak Kannan)