Maintel’s EBITDA grew by 28.2% to £4.8m for the six months ended 30 June 2024 driven by new wins in target growth markets, a new streamlined business structure and price increases.
The company also reported total revenues of £46.6m, down 1.8% from H1 2023 in line with its expectations
The trading update reads: “The first half of FY2023 was flattered by the unwinding of the order book built up through previous years that had been impacted by the global semiconductor shortage.”
During the period, Maintel managed a reduction in Net Cash Debt at £15.6m (H1 2023: £21.4m).
“The Company remains focused on delivering higher margin new business opportunities in its high growth segments moving forward and meeting expectations for the current financial year,” finished the statement.
Pictured: Maintel Interim CEO Dan Davies