|By Business Wire||
|March 10, 2014 05:04 AM EDT||
Maintel, the business-to-business voice and data provider, has delivered successful year end results based on organic growth, acquisition, strong margins, and a high level of recurring revenues.
Revenue rose by 10 per cent in 2013 to £31.1m (2012: £28.2m) and adjusted profit before tax rose 5 per cent to £5.23m (2012: £4.97m). Adjusted earnings per share (EPS) increased by 7 per cent to 37.6p (2012: 35.1p). The final dividend proposed has increased 23 per cent to 9.0p (2012: 7.3p) and dividend for the year has risen 15 per cent to 15.7p (2012: 13.6p).
Recurring revenues grew again, increasing to £24.0m, representing 77 per cent of total revenue.
Maintel continued its run of successful acquisitions in 2013, acquiring the UK and Ireland operations of the Datapoint group, which had revenues of £15.8m in the year to June 2013, for a consideration of £3.5m. The Datapoint acquisition opens up an international customer base as well as a strong presence within the enterprise contact centre and unified communications market where Maintel already has expertise.
The Network Services Division continued to deliver steady growth against the market trend, with an increase in both revenues (3 per cent) and gross profit (6 per cent) which pushed margins up a percentage point to 30 per cent.
Margins also improved in the Mobile Division, from 54 to 63 per cent. The focus for the Mobile Division for 2014 will be new sales and connections and this is being addressed with the addition of new sales resource.
Maintel was awarded the highly prestigious Avaya Technical Partner of the year status and has continued to adapt its business model and services towards new technologies such as Cloud and hosted services.
Eddie Buxton, CEO, said: “Whilst competition levels remain high, we are seeing market conditions moderately improve with businesses engaging in discussions to increase investment in their communications infrastructure”.
“Our short-term focus will be on the integration of Datapoint and realising the opportunity that its acquisition has brought to the group to diversify our revenues and significantly increase our presence in new markets.
“Maintel’s on-going success in acquiring and integrating businesses means that we remain well-positioned and alert to future opportunities.”
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