Maintel’s EBITDA grew by 28.2% to £4.8m for the six months ending June 30, 2024, driven by new contracts in growth markets, a streamlined structure, and price increases.
Despite a 1.8% drop in total revenues to £46.6m, the result was in line with expectations.
The trading update reads: “The first half of FY2023 was flattered by the unwinding of the order book built up through previous years that had been impacted by the global semiconductor shortage.”
The cloud and managed services firm also reduced its Net Cash Debt to £15.6 million from £21.4 million in H1 2023.
“The Company remains focused on delivering higher margin new business opportunities in its high growth segments moving forward and meeting expectations for the current financial year,” finished the statement.
Pictured: Maintel Interim CEO Dan Davies
