REG - Maintel Holdings PLC - AGM Trading Update

Maintel HoldingsAnnouncement

19/06/2024 07:00

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RNS Number : 9395S  Maintel Holdings PLC  19 June 2024

 

 

 

19 June 2024

 

 

Maintel Holdings Plc

(the "Maintel", the "Company" or the "Group")

 

AGM Trading Update

Maintel Holdings Plc, a leading provider of cloud, network and security
managed communications services, issues the following trading statement ahead
of its Annual General Meeting being held today.

 

In the first five months of the year, the Company has focused on strategic
organic growth initiatives, successfully closed significant new contracts and
has launched several product initiatives, including the new Maintel
Application Platform to improve its customer offering.

 

During the second quarter the Company has already secured three new
significant contracts (all of which are multi-year contracts and represent
£17.8m total contract value) with a leading housing and care provider; one of
Europe's leading credit management companies; and the Leeds Teaching Hospital,
one of the largest and busiest acute hospital trusts. These new contracts are
all within the Group's target growth industries and are aligned to its three
strategic technology pillars: Security and Connectivity, Customer Experience,
and Unified Comms and Collaboration respectively, providing further evidence
of successful strategy execution.

 

As part of the Company's market and product strategy to develop its own
intellectual property that enhances the services it delivers using technology
from global vendor partners, the Maintel Application Platform was launched in
March, providing a consistent, secure, and rapid way to develop and deploy the
Group's software. Audiosafe is the first fully productised app delivered from
the Maintel Application Platform, providing a centralised call recording
archive and playback service, supporting multiple cloud communication
platforms and legacy call recording applications.

 

As previously announced, John Booth, Deputy Chair, will not stand for
re-appointment at the Annual General Meeting to be held this morning. The
Board would like to thank John for his significant contribution, invaluable
advice and counsel throughout his tenure as a Board member. The Group is
progressing with the appointments of new Board members, of which two
non-executive positions are in advanced stages and the Company expect to
update the market accordingly in due course.

 

Inbound cost pressures continue to provide a challenge and the new contracts
referenced above were closed later in the year than initially anticipated,
following an industry trend for an elongation of approval and contracting
processes driven by economic uncertainty and an ever more complex regulatory
and compliance landscape. As a result, revenues in the first half of the year
have been slower than expected, with the second half set to deliver
significantly more revenues than the first as the now secured order book is
delivered and more of the pipeline is developed and closed.

 

The sales pipeline remains buoyant and cost control and working capital
management is being kept in clear focus. Therefore, although mindful of the
headwinds faced by the Company, the Board is cautiously optimistic at this
point about delivering against market expectations.

 

 

For further information please contact:

 

 Maintel Holdings PLC                                      Tel: 0344 871 1122
 Dan Davies, Interim Chief Executive Officer

 Gab Pirona, Chief Financial Officer

 Cavendish (Nomad and Broker)                              Tel: 020 7220 0500
 Jonny Franklin-Adams / Hamish Waller (Corporate Finance)

 Sunila de Silva (Corporate Broking)

 Hudson Sandler (Financial PR)                             Tel: 020 7796 4133
 Wendy Baker / Nick Moore / Eloise Fleet                   m (mailto:maintel@hudsonsandler.com) aintel@hudsonsandler.com
                                                           (mailto:maintel@hudsonsandler.com)

 

 

Notes to editors

 

Maintel Holdings Plc ("Maintel") is a leading provider of cloud, networking
and security managed communications services to the UK public and private
sectors. Its services aim to help its clients operate at the highest level by
designing, implementing, innovating and managing their vital digital
communication solutions, with a focus across three strategic pillars:

 

·      Unified Communications and Collaboration - Making customers'
people more effective, efficient, and collaborative with UC&C technology.
The core focus of this pillar is the high growth Unified Communications as a
Service (UCaaS) market segment.

 

·      Customer Experience - Helping customers to acquire, delight and
retain their customers using customer experience technology. The core focus of
this pillar is the high growth Contact Centre as a Service (CCaaS) market
segment.

 

·      Security & Connectivity - Securely connecting customers'
people, partners and guests to their cloud platforms, applications, and data
with secure connectivity, and protecting their business from cyber threat. The
core focus of this pillar is the high growth Software Defined Wide Area
Networking (SD-WAN), Security Service Edge (SSE) and Cyber Managed Service
market segments.

 

Maintel combines technology from its strategic, global technology vendor and
carrier partners, with its own Intellectual Property, deployed from and
managed by its own platforms, to provide seamless solutions that its customers
can consume without the need for the internal skillset required to deploy and
manage the technology themselves.

 

Maintel serves the whole market, with a particular focus on key verticals of
Financial Services, Retail, Public Healthcare, Local Government, Higher
Education, Social Housing and Utilities. Its core market constitutes
organisations with between 250 and 10,000 employees in the private, public and
not-for-profit sectors with headquarters in the UK.

 

The Company was founded in 1991 and it listed on London's AIM market in 2004
(AIM: MAI).

 

 

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