Revenue rose by 18 per cent during 2011 to £25.9m (2010: £22.0m) and adjusted profit before tax rose by 30 per cent to £3.946m (2010: £3.046). Adjusted earnings per share have increased by 35 per cent to 27.5p (2010: 20.3p).
The increases came from organic revenue growth of five per cent plus acquisitions growth of 13 per cent, as the benefits of the 2010 Redstone acquisition and the 2011 Totility acquisition began to bear fruit.
Despite businesses’ reluctance to make capital investments in a challenging economy, Maintel has reported a particularly strong year for equipment sales, showing annual growth of 38 per cent. The data connectivity element of Network Services Division increased by 11 per cent, and this continues to be an area of focus for future growth and possible acquisition.
The acquisition of Totility in October 2011 added business-to-business mobile communications to Maintel’s service proposition, including 12,000 connections and agreements with Vodafone and O2. This acquisition added expertise in the increasingly important Fixed Mobile Convergence market as customers look for a unified solution to their telephony.
Eddie Buxton, CEO, said: “This has been a year of considerable economic uncertainty but our strong customer service proposition, together with technical expertise and the acquisition of a mobile offering has resonated with our customer base.”
“A new network monitoring service allowing real time proactive monitoring of voice and data networks has enabled us to offer a complete managed service to our customers.”
“As the economy improves, we will be building on the platforms that our home-grown technical development and acquisitions have provided. The combination of end-to-end solutions and nationwide resources enables us to implement tailored solutions to support our customers’ ambitions.”