London, England: Monday 12 September 2011 – Maintel, the telecoms and data services company, today announced interim results showing strong growth, despite subdued market conditions. Revenues rose by 20 per cent in the six months to 30 June 2011, to £12.7m (H1 2010: £10.6m) and profit before tax rose by 18 per cent to £1.59m (H1 2010: £1.35m).
The acquisition of the Redstone business and successful integration of its customer base contributed as expected to Maintel’s growth. It has also enabled the move to full Avaya capability and the award of Avaya Service Expert status.
Ten per cent of revenue growth during the six months has been organic (excluding the effect of the Redstone customer base acquisition) and Maintel is actively seeking further acquisition opportunities to fuel future growth and enhance its service offering.
Strong equipment sales, up 51 per cent on the same period last year, were also a significant factor while the underlying annualised maintenance base remains robust, at £12.9m.
Network services saw modest growth in a challenging market which reflects the effects of call rate reductions. Gross margins increased by an impressive two per cent in this area.
Eddie Buxton, CEO, said: “While market conditions remain challenging, Maintel continues to grow, with the new sales pipeline remaining very strong across the business including significant growth and investment in data services”.
“We continue to develop partnerships and are confident that they will generate incremental business, with several large opportunities currently in discussion.”