Trading Update and Notice of Results

RNS Number : 1929O

Maintel Holdings PLC

28 January 2019

 

Maintel Holdings PLC

Full year 2018 trading update

and notice of results

Maintel Holdings Plc (the "Group" or "Maintel") today announces the following trading update for the 12 months ended 31 December 2018.

Further to the Group's trading update issued on 21 November 2018 (the "November Trading Update"), Maintel is pleased to announce that trading for the year ended 31 December 2018 was comfortably in line with revised market expectations, with Adjusted* EBITDA expected to be at the top end of the range communicated by Maintel at the time of the November Trading Update. The closing net debt position at the period end was £25.5m.

Highlights:

·      Acceleration in the growth of cloud sales during the fourth quarter, taking the number of contracted cloud seats on the ICON platform to c.70,000

·     Two significant new multi-year public sector contracts awarded in the fourth quarter of 2018. On implementation these will become the Group's largest cloud unified communication customers to date

·     In December 2018 Maintel launched its new ICON Connect SD-WAN proposition, bringing SD-WAN to its enterprise class managed network service to enhance performance and provide customers with increased efficiency and visibility across their networks

·     Post period end, the Group has launched 'ICON Now', a new unified communications cloud service aimed at mid-market customers, further expanding Maintel's addressable market

The Group reiterates its current intention for the total full year 2018 dividend to grow year on year, in line with existing guidance.

The Board remains confident in delivering growth in both revenue and EBITDA for the current financial year to 31 December 2019. As previously stated, this growth will be underpinned by the full year impact of the Unify customer base acquired on 29 June 2018 and continued growth in the ICON cloud business, as well as the implementation of margin enhancing initiatives across the business.

Final results for the full year ended 31 December 2018 will be announced on 18 March 2019.

*Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation, adjusted for share based payments and exceptional costs.

Maintel Holdings plc Eddie Buxton, Chief Executive Officer                                             Tel: [phone] Mark Townsend, Chief Financial Officer                                          Tel: [phone]
finnCap Jonny Franklin Adams / Emily Watts (Corporate Finance) Richard Chambers (Corporate Broking)	Tel: [phone]
Oakley Advisory (Financial Advisor)	Tel: [phone]
Christian Maher / Victoria Boxall

 

END

 

 

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