Business
Preliminary Results for the year ended 31 Dec 2010
Preliminary Results for the year ended 31 Dec 2010.
About this update from Maintel Holdings Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 7487C Maintel Holdings PLC 11 March 2011 \n \n\nMaintel Holdings Plc\n \nPreliminary results for the year to 31 December 2010\n \n \n \nMaintel Holdings Plc, the telecoms services company, announces preliminary results for the year to 31 December 2010. \n \nFinancial highlights\n \nAdjusted* earnings per share of 20.3p (2009: 17.7p); basic earnings per share of 17.8p (2009: 15.7p) \n \nGroup revenue increase of 13% to £22.0m (2009: £19.4m), with recurring revenue increasing by 9% to £17.5m (2009: £16.0m) to be 79% of total 2010 revenue\n \nProfit before tax up 12% at £2.673m (2009: £2.382m)\n \nAdjusted* profit before tax up 14% at £3.046m (2009: £2.675m)\n \nMaintenance base £13.2m at year end (2009: £10.3m)\n \nEquipment sales up by 32% at £4.7m (2009: £3.6m), including a £622,000 contract \n \nSales of broadband, call traffic, line rental and related products increased by 2% to £5.8m (2009: £5.7m) despite rate pressures\n \nStrong operating cash flow and year end cash balances of £2.5m (2009: £2.5m), after the acquisition of the Redstone base for £1.6m net cash, dividends of £1.2m (including a special dividend in March 2010) and share buy backs costing £0.5m; the Group has no debt\n \nFinal dividend proposed of 4.6p per share (2009 second interim equivalent: 4.1p), making 8.5p for the year (2009: 10.1p, including a special dividend of 2.9p)\n \n*adjusted for goodwill impairment, intangibles amortisation and non-trading accounting adjustments re the Redstone acquisition\n \nOperational highlights\n \n3 year partnership agreement signed with Westcon in June to service its maintenance base, adding c£600,000 annualised maintenance revenue, c1,400 customers and an important Avaya skill base\n \nAcquisition of business and assets from Redstone plc subsidiaries in October, adding c£2m annualised maintenance base and further Avaya and other resource\n \n2 further significant orders received from the Group's main customer, one in February and one in July\n \nFor further information please contact:\n \nEddie Buxton, Chief Executive &nb...