Vonage opens new headquarters in London for European expansion plans
The communications provider is still on target to hit total revenue projection of £754m by year end
Dealers
October 11, 2017
Maintel claims it now “stands as one of the largest communications integrators in the UK” with combined revenues of around £150 million
Maintel announced revenues for the first half of 2017 are up 68 per cent to £68.8m from £38.1m in the same period of 2016, underpinned by acquisitions.
The London-headquartered managed services provider acquired O2 direct dealer Azzuri Communications in a £48.5m deal in April 2016, which is seeing further integration this year. Recently it acquired unified communications specialist Intrinsic for £5.25m.
Group gross profit increased by 50 per cent, from £13.1m to £19.6m, while adjusted earnings per share grew 44 per cent to 38.2p.
Largest communications integrators
Maintel claims it now “stands as one of the largest communications integrators in the UK” with combined revenues of around £150 million, and counting 700 members of staff across eight offices.
Maintel CEO Eddie Buxton said: “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. This year has also seen increased investment and development of our ICON Cloud platform, which has grown by 55 per cent in contracted seats in our ICON Communicate offer alone.
“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.”