MAINTEL – INTERIM RESULTS SHOW ROBUST PERFORMANCE
London, England, 16 September 2013 – Maintel, the business-to-business telecoms and data services company, today announced interim results showing a robust performance, particularly in maintenance, equipment sales and network services.
Group revenue increased by 1 per cent in the six months to 30 June 2013 to £13.56m (H1 2012: £13.49m) and adjusted profit before tax rose by 2 per cent to £2.36m (H1 2012: £2.35m). This translates to adjusted earnings per share of 16.9p (H1 2012: 16.6p), an increase of 2 per cent.
The results have been generated through organic growth and follow Friday’s announcement of the £3.5m cash acquisition of the Datapoint UK &Ireland companies. This will significantly enhance Maintel’s product offering and market reach and create a strong presence in Ireland.
Maintel has an excellent acquisitions record, having successfully integrated the Redstone maintenance assets and mobile specialist Totility (now Maintel Mobile) in the past three years. The positive impact of Maintel Mobile is contributing to an increasing number of customers taking multiple products from across the group.
Maintel’s balance sheet is strong and it continues actively to seek out acquisitions that will add clear shareholder and strategic value to the group.
The interim results show a strong performance in equipment and professional services, with a healthy order backlog moving into the second half of the financial year. The network division showed a healthy performance despite well-publicised market pressures, with revenues up 7 per cent and gross profit up 12 per cent on the corresponding period last year.
Eddie Buxton, CEO, said: “This has been a solid six month period in which we have consolidated in key areas and focused on both organic and acquisition-led growth for the second half of the year. The further development of the Maintel customer base in the UK and Ireland through the acquisition provides an excellent platform for growth as the economy recovers. Telecoms is, and will remain, a highly volatile and competitive marketplace and Maintel has a proven ability to capitalise on developing market sectors and deliver value to customers and shareholders.”
