FAST-growing communications firm Daisy Group today announced a doubling of sales - but said it would snap up fewer rivals in future.

The Nelson company saw turnover rocket from £134.4million to £266.3million for the year ending March 31 after splashing out £90million on taking over other businesses.

Meanwhile, although Daisy, listed on London’s junior stock market AIM, remained in the red, its operating loss narrowed from £21million to £15.8million.

In its full-year results, the firm, based on the Lomeshaye industrial estate, said it expected the rate of takeovers to ‘reduce versus historic levels’.

But the company predicted trading ‘towards the upper end’ of market expectations in the year ahead.

Chief executive Matthew Riley, who founded Daisy in his garage in 2001, said: “Our acquisitions have strengthened our product portfolio and positioned us well for future growth.

"Visibility across the group is improving and we face the financial year to March 2012 with confidence.”

In the past year, Daisy snapped up eight rivals in the business telecoms market for a combined £89.9million.

The firm said that the takeovers, while boosting revenue, notched up exceptional costs of £12.2million.

Daisy also announced that chief financial officer Anthony Riley quitting ‘to pursue other interests’. He has been replaced by corporate development director Steve Smith.

Last week, Daisy announced plans to create 100 new jobs at its Nelson HQ. Currently more than 400 people work there.