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Maintel Holdings PLC - London-based cloud and managed service specialist - Expects group revenue of around GBP104 million and adjusted Ebitda of about GBP9.6 million for 2021.
This represents a slight 2.3% decrease from group revenue of GBP106.4 million the year before, but a narrow 1.1% increase in adjusted Ebitda from GBP9.5 million.
Notes that both revenue and Ebitda are in line with market expectations.
Says cash generation remained "strong" in the year and generated net debt of GBP19.4 million as at December 31. This outperformed market expectations and will allow Maintel to deliver a "notable reduction" from closing net debt position of GBP22.3 million on the same date the year before.
States that its transition to a cloud and managed services business continues. At year-end, the group was exceeding 130,000 contracted cloud seats, up 30% year-on-year.
Adds that its cloud portfolio continues to be enhanced with both public and private cloud solutions. Believes it is, therefore, well-positioned to meet changing market requirements during 2022.
Current stock price: 336.20 pence
12-month change: down 14%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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