Maintel has reported successful year end results based on organic growth, acquisition, strong margins, and a high level of recurring revenues.
Revenue rose by 10 per cent in 2013 to £31.1m (2012: £28.2m) and adjusted profit before tax rose 5 per cent to £5.23m (2012: £4.97m). Adjusted earnings per share (EPS) increased by 7 per cent to 37.6p (2012: 35.1p). The final dividend proposed has increased 23 per cent to 9.0p (2012: 7.3p) and dividend for the year has risen 15 per cent to 15.7p (2012: 13.6p).
Recurring revenues grew again, increasing to £24.0m, representing 77 per cent of total revenue.
Maintel continued its run of acquisitions in 2013, acquiring the UK and Ireland operations of the Datapoint group, which had revenues of £15.8m in the year to June 2013, for a consideration of £3.5m.
Maintel was awarded the highly prestigious Avaya Technical Partner of the year status and has continued to adapt its business model and services towards new technologies such as Cloud and hosted services.
Eddie Buxton, CEO, said: “Whilst competition levels remain high, we are seeing market conditions moderately improve with businesses engaging in discussions to increase investment in their communications infrastructure”.
“Our short-term focus will be on the integration of Datapoint and realising the opportunity that its acquisition has brought to the group to diversify our revenues and significantly increase our presence in new markets.
“Maintel’s on-going success in acquiring and integrating businesses means that we remain well-positioned and alert to future opportunities.”