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Managed services specialist Maintel has continued the strong performance it enjoyed in the last fiscal year and kept the momentum going into the first half of 2017.T
The firm has seen its numbers swell thanks to the on going contribution from the acquisitions of Azzurri and is looking forward to gains in the second half as the benefits of the Intrinsic deal start to filter through.
Last year saw Maintel reporting revenues up by 114% to £108.3m with pre-tax profits also going up by a healthy 52% to £11.1m, with recurring revenue hitting 73%.
The firm is on track to hit similar revenue growth with H1 delivering a 68% increase from the same period last year, to £63.8m from £38.1m, with gross profit up by 50% to £19.6m.
Maintel can now boast of being one of the largest communications integrators in the UK, with combined revenues of around £150m and a staff of around 700.
The first half has included more integration of the Azzurri business and more uptake of the cloud services that the channel player has developed in-house.
“The period has been another success for the group, achieving strong growth. With the integration of Azzurri almost complete, cost synergies are starting to be realised," said Eddie Buxton, CEO of Maintel.
The firm has also put more investment into its own ICON cloud platform, which has helped it grow by 55%.
"The growth of our cloud-based offering is expected to continue to accelerate for the rest of year, and as a result we intend to continue our investment in these areas. The contribution of Intrinsic will also benefit the business for the remainder of 2017, with a number of opportunities for cross-selling already identified,” added Buxton.
Maintel acquired Intrinsic for £5.25m at the start of August which gave the firm access to Cisco gold partner status, the Avaya Edge Diamond level and a strong background in network security and unified comms. The £48.5m deal for Azzurri was struck back in April 2016.