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LONDON (Alliance News) - Telecoms firm Maintel Holdings PLC Monday reported an increase in pretax profit for the first half, reflecting a strong performance across the business.
Maintel posted pretax profit of GBP2.0 million for the period ended June 30, up from GBP195,000 a year earlier, while revenue increased slightly to GBP13.6 million from GBP13.5 million in 2012.
The firm said revenue grew for both its maintenance and equipment and its network services divisions. The network arm performed strongly in the face of market pressures, with revenue up 7.2% to GBP3.5 million, from GBP3.2 million on the corresponding period.
However, mobile revenue declined to GBP1.2 million from GBP1.4 million, due to a temporary contract renewal cap imposed by one of Maintel's network suppliers in the first quarter.
Maintel said cash stood at GBP0.7 million for the period, with no debt following payment of the final tranche of its mobile acquisition in 2011 and increased dividend payments.
On Friday the company announced the acquisition of three Datapoint companies in the UK and Ireland for GBP3.5 million in cash.
Maintel "moves into the second half with a healthy equipment and professional services order backlog and an improving pipeline of prospects generally, leaving us with confidence that the group will continue to trade in line with the board's expectations," Chief Executive Eddie Buxton said in a statement.
"Furthermore, the acquisition of the Datapoint UKI companies is a key component of our strategy to diversify our revenue base and significantly increase our presence in new markets."
The board approved a 6.3% increase in the interim dividend to 6.7 pence per share from 6.3 pence.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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