Maintel sees continued revenue growth in 2017
Managed communications services provider, Maintel announced revenues are up by 68% to £63.8 million (€70.33 million) in the first half of 2017, rising from £38.1 million (€42 million) in same period of 2016.
Group gross profit increased by 50%, from £13.1 million (€14.4 million) to £19.6 million (€21.61 million), while adjusted earnings per share grew 44% to 38.2p.
As well as strong growth figures, the period has seen the continued integration of Azzurri, along with the acquisition of Intrinsic Technology for £5.25 million (€5.79 million). The acquisition adds strong Cisco capability due to Intrinsic’s Gold Partner status, boosting proficiency in the networking, network security and unified communications space. Maintel now stands as one of the largest communications integrators in the UK, with combined revenues of around £150 million (€165.34 million) and more than 700 employees.
Maintel’s CEO Eddie Buxton said: “The period has been another success for the group, achieving strong growth. With the integration of Azzurri almost complete, cost synergies are starting to be realised. This year has also seen increased investment and development of our ICON Cloud platform, which has grown by 55% in contracted seats in our ICON communicate offer alone.
The growth of our cloud-based offering is expected to continue to accelerate for the rest of year, and as a result we intend to continue our investment in these areas. The contribution of Intrinsic will also benefit the business for the remainder of 2017, with a number of opportunities for cross-selling already identified,” he added.
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