2013-03-11 10:30:55 -
Maintel, the business-to-business voice and data provider, has delivered strong end of year results.
Revenue rose by 9 per cent in 2012 to £28.2m (2011: £25.9m) and adjusted profit before tax rose 26 per cent to £4.97m (2011: £3.95m). Adjusted earnings per share (EPS) increased by 28 per cent to 35.1p (2011.
27.5p). Recurring revenue grew by 12 per cent to £21.7m and now represents 77 per cent of overall revenue.
Network Services division has performed well, growing by 11 per cent for the year, and margin improved from 28.4 per cent to 28.9 per cent. The growth was primarily driven by a strong performance from the higher quality access and data products.
The new mobile business, acquired in October 2011 and rebranded this
year as Maintel Mobile, produced its first full year revenues of £2.94m.
It has integrated well into the broader business, providing cross-selling opportunities and a 4 per cent increase in connections.
Maintel Mobile has also achieved a strong rate of post-acquisition customer renewals and was awarded Platinum Dealer status by Vodafone in July 2012.
Maintenance and Equipment sales, which were weaker in H1, saw a significant rebound in H2 with Equipment in particular increasing sales to £3.657m (H1 2012: £2.778m) as both public sector and enterprise organisations look to consolidate and update their communications infrastructure to the latest technology.
Eddie Buxton, CEO, said: “Whilst we do not expect the challenging market conditions to abate in the short term, we have made good progress during the year with the integration of mobile into our service offering and moving our business to newer technologies. Alongside the recovery in H2 revenues and our return to organic growth during this period, we are cautiously optimistic about the year ahead.”
Maintel continues to be vigilant for sensibly priced acquisitions to add to its business.
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MaintelEddie Buxton, Chief Executive020 7401 4601orDale
Todd, Finance Director020 7401 0562orFinnCapCharlotte
Stranner (Corporate Finance)020 7220 0500orBrian
Patient (Corporate Broking)020 7220 0500orLexicon
Public Relations LtdSue Baker+44 1943 830 626mobile:
07801 355 788 firstname.lastname@example.org