Ten per cent of revenue growth during the six months has been organic, excluding Totility’s revenue following its acquisition in October 2011. Maintel has a track record of successful acquisition, having delivered strong results from its 2010 purchase of Redstone, and remains alert to acquisition opportunities.
Totility has made a significant contribution to Maintel’s growth, generating gross profit of £857,000 in the six months and providing ongoing cross-selling opportunities.
Network services revenues have increased by 10 per cent at £3.243m with increased margins. Line rental sales have increased by 21 per cent and data services by 27 per cent. Maintel’s traditional maintenance business delivered steady results with a slight downturn during the period under review due to economic conditions leading to consolidation of customer sites. This is expected to be redressed as a major new contract win which went live on 1 June 2012 impacts on the second half of the year.
Eddie Buxton, CEO, said: “We are very pleased to be delivering robust results in what remains a challenging economic climate. Whilst client consolidations have impacted on some elements of the business during the first six months, these are more than outweighed by strong growth in two rapidly-developing market sectors: network services and mobile.