Maintel reports 19% jump in annual pre-tax profit

8th Apr 2016 13:28

(ShareCast News) - Telecom and data services company Maintel reported a 19% jump in full year pre-tax profit as revenues were boosted following the acquisition of Proximity Communications.Adjusted pre-tax profit in the year to 31 December 2015 rose to £7.1m from £6.1m. Revenues increased 21% to £50.6m from £41.9m.The group said profit and revenue growth were supported by the full year impact of the 2014 acquisition of Proximity, which supplies communications, data and wireless services."The acquisition of Proximity in October 2014 has added a broad range of services and skills to the Group's portfolio, and increased the group's ability to manage highly technical, major transformation projects," said chairman John Booth.Net cash flow from operating activities came to £6.8m during the year, up from £6.1m in 2014. Strong cash flows helped reduce debt by £3.5m to £3.2m at the year end.The total dividend payment for the full year 2015 came to 29.3p, compared to 11.6p in 2014.The company said it intends to increase the dividend per share by 5% and 10% for the full financial years in 2016 and 2017, respectively."With Proximity now fully integrated, we feel confident in an outlook for continued revenue growth, supported by the recent win of two significant new contracts in the insurance and utility sectors and an increasing new sales pipeline that now stands at a record level," said chief executive Eddie Buxton.