Maintel’s transformation into a cloud and managed services business continues apace as it reported flat growth for the six months ending 30 June 2021.

The comms provider reported revenue of £53.5m for its fiscal H121, compared to £53.4m it reported in the same period last year. Despite this, Maintel was upbeat about its transformation strategy.

It reported a 52 per cent year-on-year growth in cloud subscription revenues to £4.3m. It also reported that revenue from cloud and software customers is now at £15.9m, accounting for 30 per cent of total revenue. It also secured a contract renewal with JD Sports, delivered a large private cloud contact centre migration for Admiral Insurance, as well as a new Genesys CCaaS solution and SD-WAN deployment for Biffa.

Maintel also revealed that its target of securing 150,000 contracted seats by the end of 2021 is well underway, with the total number of contracted seats increasing 47 per cent to around 117,000 in H1. The sale of its Managed Print Services business for £4.5m this year was also a noted highlight of its H1 by the firm.

“Maintel had a solid first half and has continued its transition to a cloud and managed services business,” stated CEO Ioan MacRae.

“The Group returned to organic revenue growth in H1, exceeding its revenue plan, whilst continuing to reduce debt, aided by the disposal of the Managed Print Services business. With our sales momentum returning, we continue to expect year-on-year organic revenue and adjusted EBITDA growth from continuing operations for the full year to 31 December 2021″

“The new sales team structure that was implemented in FY20 and enhanced in January, has seen a distinct improvement with sales meeting or exceeding budget each quarter since Q4 FY20.  The team has closed four major contracts during H1 2021 – each worth over £8m TCV – and acquired several new customer contracts across both the public and private sectors, ensuring we maintain our managed services revenues and maximise future opportunity development.

“Notwithstanding the impact of the ongoing COVID uncertainty and the global semi-conductor supply issues, I remain confident in the Group’s outlook for H2 2021 and expect both revenue and adjusted EBITDA to demonstrate organic growth for the full year, in line with expectations.”

 

 



from UC Today https://ift.tt/3ySHU7o