Maintel Holdings PLC Trading Update (7064D)

TIDMMAI

RNS Number : 7064D

Maintel Holdings PLC

02 February 2018

2 February 2018

Maintel Holdings PLC

Trading Update

Maintel Holdings PLC (the "Group" or "Maintel"), the leading systems integrator and managed services provider, issues the following trading update for the year ending 31 December 2017.

Further to the Group's trading update issued on 6 December 2017, Maintel is pleased to announce that trading for the year ending 31 December 2017 is in line with expectations.

-- The Group has seen customer orders for Avaya installations continue to recover. A promising pipeline is also developing which is expected to have a positive impact on Managed Services and Technology performance in Q1 2018.

-- The integration of Intrinsic Technology ("Intrinsic") continues to go well and, in addition, Maintel is pleased to see an increasing level of cross-sell across the Group; both in terms of Cisco sales into the Maintel customer base and also sales of Maintel's ICON suite of cloud and managed services into the Intrinsic customer base.

The Group will deliver adjusted EBITDA of approximately GBP12.5 million for the year ended 31 December 2017, with revenue marginally ahead of expectations. The closing net debt position will also be better than previously expected.

As stated previously, and reflecting continued confidence in underlying cash flows and the longer-term prospects for the Group, it remains the current intention for the total full year 2017 dividend to grow 10% year on year, in line with existing guidance.

The Board remains confident in delivering substantial growth in revenue and EBITDA in the full year to 31 December 2018.

The Group will issue its final results for the year ending 31 December 2017 on 19 March 2018.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

For further information please contact:

 
 
 Eddie Buxton, Chief Executive      020 7401 4601 
 Mark Townsend, Chief Financial 
  Officer                           020 7401 4663 
 
 finnCap 
 Jonny Franklin-Adams / Emily 
  Watts (Corporate Finance) 
  Stephen Norcross (Corporate 
  Broking) 
                                    020 7220 0500 
  Oakley Advisory (Financial 
  Advisor) 
  Christian Maher / Victoria 
  Boxall                            020 7766 6900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 02, 2018 02:00 ET (07:00 GMT)