Maintel shares falter after revenue falls in year of transition

(Alliance News) - Maintel Holdings PLC on Friday forecast a decline in annual revenue, though the company remained positive about restructuring in 2024.

The London-based digital communications firm expects to report GBP97.9 million annual revenue, down 3.4% from GBP101.3 million the previous year.

However, Maintel forecast a 15% rise in adjusted earnings before interest, taxation, depreciation and amortisation, which are expected around GBP10.5 million versus GBP9.1 million in 2023, in line with expectations.

Market confidence in the firm remained shaky. Its shares fell 14% to 237.00 pence each on Friday morning in London.

Maintel noted its "strategic pivot" in 2024 from general services to specialising in "high-growth technology". Ebitda growth was driven by new contract wins in its three technology divisions, which focus on communications, customer experience and security respectively.

"The relaunch of our brand in November has successfully framed our strategy for our people, our customers and our prospects, and we remain focused on our aim of using technology to create customer experiences, services and workplaces that inspire and empower people," commented Interim Chief Executive Dan Davies.

Price increases and an internal "streamlining" scheme also boosted 2024's Ebitda, Maintel said, though the adjusted Ebitda figure excludes "once-off restructuring costs". Net cash debt was reported as GBP16.7 million at December 31, down 8.2% from GBP18.2 million the year before.

Heading into 2025, Maintel is targeting full-year revenue between GBP100 million and GBP102 million. The firm expects to release full-year 2024 results on April 5.

By Holly Munks, Alliance News reporter

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