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LONDON (Alliance News) - Telecoms and data services firm Maintel Holdings PLC said Monday group revenue for the year rose 10% and it boosted its final dividend as it said it is open to new potential acquisitions, following the successful integration of Datapoint.
Group revenue for the year to December 31, 2013, were 10% higher than the previous year at GBP31.1 million from GBP28.2 million. Pretax profit also rose, boosted to GBP3.6 million from GBP1.4 million last year. The firm notes that recurring revenues amounted to GBP24.0 million, 77% of total revenue.
Maintel increased its final dividend by 23% to 9.0 pence from 7.3 pence per share, resulting in a final dividend of 15.7 pence, up 15% on last years' 13.6 pence per share.
The firm said its highlight of the year came toward the end of the reporting period, when it acquired the UK and Ireland operations of the Datapoint group in a GBP3.5 million deal, paid in cash and partly funded by borrowings. Completed in September, the firm said the acquisition, "brings with it new and exciting skill sets which are allowing us to develop our business in new sectors, including the contact centre market where Maintel already has a presence but Datapoint has a much greater depth of knowledge and experience. It also has a significant international customer base and an Irish office, which will bring further opportunities to the Group."
On a divisional basis, Maintel said network services showed steady growth with revenues up 3% at GBP6.9 million. The mobiles business saw revenues decline slightly to GBP2.6 million, a GBP0.3 million drop; the firm said this was due to an increased focus on improving margins - which increased from 54% to 63% - rather than connection numbers. Due to new sales coming in below expectations, the firm said it will address this area in 2014 with the addition of new sales resource.
Looking ahead, and buoyed by the successful integration of the Datapoint business, Chairman J Booth, said its medium term focus is to, "realise the potential of the Datapoint acquisition across a number of fronts, but we will remain alert to value enhancing acquisitions of businesses or customer bases as these arise. We look forward to the coming year with enthusiasm and confidence.
Maintel shares were trading up 4.63% at 565.00 pence per share Monday.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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