Maintel Revenues Hit £41.9m

Eddie-Buxton

Maintel has announced revenues of £41.9m for 2014, climbing from £31.1m the previous year. The 35% boost in revenue reflects the success of its acquisitions of Datapoint and Proximity, and organic growth with recurring revenue at 73%.

Adjusted profit before tax was £6.1m (2013: £5.2m), a 16% increase year on year, with adjusted earnings per share growing 24% to 46.7p. The management’s confidence in the progression of the business is reflected in a 29% increase in the final dividend.

Eddie Buxton, CEO of Maintel Group, said, “This has been another significant year in the development of Maintel. We have delivered a strong financial performance, with pleasing organic growth in a challenging market. Our achievements have been complemented by two acquisitions, which have brought additional strengths in the areas of unified communications, contact centres, design authority, data networking, security and wireless”.

Over the course of the last 12 months Maintel has bolstered its leadership team, with a series of strategic hires. These included Rob Leader, to head-up Maintel’s Mobile and Network Services divisions; and former Proximity Marketing and Sales Director Stuart Legg, who became Group Sales Director.

Eddie Buxton added “We remain committed to considering further acquisition opportunities where these can be seen to add shareholder value. In addition, we continue to grow our expertise in evolving technologies, such as hosted environments. We’ve already made encouraging organic progress in this area, including the recent launch of the Maintel Cloud unified communications and contact centre proposition”.

Maintel is also growing internationally, working with a number of global businesses operating across multiple countries. The Group now has a contracted managed service base of £25m per annum.