Profits rise 16 per cent year-on-year to £6.1 million in its FY 2014 accounts
Telecoms and managed service provider, Maintel, has grown its revenues by 35 per cent to £41.9 million (2013: £31.1 million) for the year-ending December 31 2014.
Profits at the Manchester-based company also increased by 16 per cent year-on-year to £6.1 million (£5.2 million).
The company says its revenue growth was achieved by its acquisitions of unified communications providers Datapoint (September 2013) and Proximity (October 2014). It also claimed “strong” organic growth although recurring revenues dipped from 77 per cent to 73 per cent over the year.
“This has been another significant year in the development of Maintel,” said chief executive officer Eddie Buxton. “We have delivered a strong financial performance, with pleasing organic growth in a challenging market. Our achievements have been complemented by two acquisitions, which have brought additional strengths in the areas of unified communications, contact centres, design authority, data networking, security and wireless.”
On the back of its financial performance, the company increased its final dividend to shareholders by 29 per cent.