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Pin to quick picksMaintel Share News (MAI)

Share Price Information for Maintel (MAI)

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Share Price: 230.00
Bid: 220.00
Ask: 240.00
Change: 0.00 (0.00%)
Spread: 20.00 (9.091%)
Open: 230.00
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Maintel profits soar after record cloud contract wins

Mon, 18th Mar 2019 08:28

(Sharecast News) - Maintel Holdings stormed skywards on Monday after a slew of new contracts, including its two largest ever cloud contracts, led to increases in both annual profit and revenue.The managed communications provider racked up a profit before tax of £2.2m throughout 2018, an increase of 40% on the year before, while revenue jumped by 8% to £136.5m after a 23% increase in revenue from the Managed Services and Technology division, which rose to £89.9m.The number of subscribers on Maintel's cloud platform climbed by 38% in the year, coming from both public and private sector clients, while its managed services base grew by around 10%.Meanwhile, revenue from the Network Services and Mobile divisions dropped by 12% and 18% respectively to £40.9m and £5.6m.Eddie Buxton, chief executive of Maintel, said: "During the year we have delivered significant increases in all our key financial metrics, notwithstanding the challenging market backdrop, whilst continuing to make progress in our continued transformation to a cloud and managed services business. Growth in contracted seats on our ICON platform accelerated in the fourth quarter of the year and we have delivered several exciting new customer wins, including two multi-year public sector contracts with the NHS, which on implementation will be our largest cloud contracts to date."The company added that it continues to win cloud contracts from both its existing base of on-premise customers, who make up 52% of cloud customers, as well as from new customers.The AIM traded company proposed a final dividend of 19.5p per share, taking the full year dividend to 34.5p per share, an increase of 2%, while it reported cash and cash equivalents of £4.0m at the end of the period, up from £3.3m at the same point the year before."In addition, we continue to invest in developing and improving our platform and services offering, to increase our addressable market going forward. As a result, the board remains confident in delivering growth in revenue and EBITDA in the full year to 31 December 2019, in line with expectations," said Buxton.Maintel Holdings' shares were up 16.00% at 580.00p at 1021 GMT.
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IN BRIEF: Maintel aims to meet forecasts despite slow first half sales

Maintel Holdings PLC - London-based cloud and managed communications service provider - Issues trading statement ahead of Wednesday's annual general meeting. "Although mindful of the headwinds faced by the company, the board is cautiously optimistic at this point about delivering against market expectations," Maintel says. Points out sales pipeline remains buoyant and cost control and working capital management is being kept in clear focus. But, notes inbound cost pressures continue to provide a challenge and new contracts were closed later in the year than initially anticipated. This means revenue in the first half of the year has been slower than expected, with the second half set to deliver significantly more revenue than the first as the now secured order book is delivered and more of the pipeline is developed and closed.

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1 May 2024 13:14

EARNINGS: Anexo revenue up; Maintel hails "confident start" to 2024

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19 Apr 2024 20:20

CORRECT: Maintel says Executive Chair Carol Thompson to leave post

(Corrected to clarify that Thompson's resignation is not linked to the delay in the release of results.)

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18 Apr 2024 13:42

IN BRIEF: Maintel says exec chair to resign following results delay

Maintel Holdings PLC - London-based cloud and managed communications service provider - Says Executive Chair Carol Thompson is to leave her role with immediate effect, and further, that Deputy Chair John Booth will not stand for re-appointment at the next AGM. Intends to look for a new non-executive chair to support the "continued transformation of Maintel".

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27 Feb 2024 13:56

IN BRIEF: Maintel Holdings name Dan Davies as interim CEO

Maintel Holdings PLC - London-based cloud and managed communications service provider - Says that, after successfully completing the initial phases of its turnaround plan, Dan Davies has taken over as interim chief executive officer while the company looks for a permanent replacement. Maintel explains that this will allow Carol Thompson to focus on her executive chair role. Both changes are effective immediately.

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22 Jan 2024 13:55

Reorganised Maintel flags improved full-year revenue, earnings

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