StockMarketWire.com - Cloud and managed services provider Maintel Holdings posted a 40% rise in annual profit, as new contract wins including with the NHS boosted revenue.

Pre-tax profit for the year through December rose to £2.2m, as revenue rose 8% to £136.5m.

Adjusted profit rose 16% to £10.8m.

The company declared a full-year dividend of 19.5p per share, up 2% on-year.

'During the year we have delivered significant increases in all our key financial metrics, notwithstanding the challenging market backdrop,' chief executive Eddie Buxton said.

'Growth in contracted seats on our ICON platform accelerated in the fourth quarter of the year and we have delivered several exciting new customer wins, including two multi-year public sector contracts with the NHS, which on implementation will be our largest cloud contracts to date.'

'In addition, we continue to invest in developing and improving our platform and services offering, to increase our addressable market going forward.'

'As a result, the board remains confident in delivering growth in revenue and Ebitda in the full year to 31 December 2019, in line with expectations.'






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