Business
Interim Results for the 6 months to 30 June 2011
Interim Results for the 6 months to 30 June 2011.
About this update from Maintel Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9991N Maintel Holdings PLC 12 September 2011 \n \n\nMaintel Holdings Plc\n(\"Maintel\" or the \"Group\")\n \nInterim results for the six months to 30 June 2011\n \n \nMaintel Holdings Plc, the telecoms and data services company, announces unaudited interim results for the six months to 30 June 2011. \n \n \nHighlights\n \nRevenue up by £2.1m on H110 to £12.7m, an increase of 20%; 10% underlying increase excluding the effect of the Redstone customer base acquisition \n \nAdjusted profit before tax[1] up 16% on H110 at £1.71m (H110 - £1.48m) \n \nAdjusted earnings per share[2] up 21% on H110 at 11.9p (H110 - 9.8p) \n \nStrong cash conversion of profits with cash of £3.3m at 30 June 2011 (31 December 2010 - £2.5m) after paying a dividend of £0.5m and taxation of £0.3m \n \nProgressive dividend policy maintained with interim dividend proposed of 4.6p per share (H110 - 3.9p), an increase of 18%\n \nSuccessful integration of Redstone customer base and cross selling of additional services\n \nCompleted move to full Avaya capability, and awarded Avaya Service Expert status\n \n \n[1] adjusted profit before tax is basic profit before tax of £1.59m (H110 - £1.35m), adjusted for intangibles amortisation and non-trading adjustments relating to the 2010 Redstone customer base acquisition \n \n[2] adjusted earnings per share is basic earnings per share of 10.9p (H110 - 9.0p), adjusted for intangibles amortisation and the non-trading Redstone adjustments\n \n \n\n\nFor further information please contact:\n \nMaintel\n \nEddie Buxton, Chief Executive 020 7401 4601\nDale Todd, Finance Director 020 7401 0562\n \nfinnCap Limited\n \nMarc Young/Charlotte Stranner 020 7600 1658\n \n\n\nChairman's statement\n \n \nI am pleased to report a satisfactory first half to 2011 with revenues growing by 20% to £12.7m delivering an adjusted earnings per share increase of 21% from 9.8p to 11.9p on adjusted profit before tax of £1.7m.\n \nOur acquisition of the Redstone businesses in the second half of 2010 contributed as expected to this growth and these are...