UK IT Channel News | IT Channel Oxygen
  • News
  • Topics
    • Vendor
    • Distributor
    • Partner
    • Indepth
    • Sustainability
    • M&A
    • People Moves
    • AI
    • Tech trends
  • Sustainability
  • About Us
  • Partner with us
Members
Must-Know Distributors
Oxygen 250
No Result
View All Result
  • News
  • Topics
    • Vendor
    • Distributor
    • Partner
    • Indepth
    • Sustainability
    • M&A
    • People Moves
    • AI
    • Tech trends
  • Sustainability
  • About Us
  • Partner with us
No Result
View All Result
UK IT Channel News | IT Channel Oxygen
No Result
View All Result
Home Partner

Maintel rejoins £100m club

Double-digit sales surge reflects 'accelerated trading momentum'

Oxygen staff by Oxygen staff
2 May 2024
in Partner, News
Maintel rejoins £100m club

Image by S K from Pixabay

Share on LinkedinShare on Twitter

Maintel has rejoined the £100m revenue club after effort to transform the business lit up its second-half sales.

The AIM-listed cloud and managed communications services provider is bouncing back following a “challenging few years” that culminated in CEO Ioan McRae resigning in February 2023.

It saw calendar 2023 revenues hit £101.3m, up 11% on the previous year but down slightly on its 2021 £103.9m haul.

Maintel previously trailed the fact its 2023 results would likely top expectations in January. The revenue surge reflects “accelerated trading momentum” in the second half following a strategic review and transformation of the business in the first half, it said.

Although pre-tax losses widened to £6.8m on the back of £7m in exceptional costs, adjusted EBITDA more than doubled to £9.1m.

The Avaya partner, which ranked 55th in the recent Oxygen 250, is currently seeking a permanent CEO after Dan Davies replaced Carol Thompson as interim CEO in February 2024.

“2023 was a year of business transformation and performance turnaround for Maintel, thanks to the successful implementation of a strategic review and a new focus on three technology segments: Unified Communications & Collaboration, Customer Experience, and Security & Connectivity,” Davies said.

Maintel’s management team “continues to focus on the strategic organic growth initiatives, with a focus on margin improvement and revenue expansion opportunities”, Davies added.

Some 74% of Maintel’s revenue haul was recurring, down from 77% a year earlier.

It bagged long-term value contracts with the likes of Atos/Unify, Harrods, and Northampton General Hospital NHS Trust during the period.

Of the £7m exceptional costs, £2.3m related to the termination of its Callmedia business, £1.6m to the downsizing of its London premises and £1.5m to staff-related restructuring.

“Our leaner, more focused organisation delivered cost structure improvements which had a onetime exceptional cost. The restructuring of the Group was completed in the first half and payback was within the same year, leaving the future clear for performance and yield improvement,” Davies concluded.

Tags: featuredMaintel
Previous Post

“We’ll likely complete another 3-6 acquisitions this year”

Next Post

Zebra: ‘Our bigger partners want to work with vendors with a sustainability programme’

Related Posts

Clare Metcalfe, Phoenix Software NEW
Big Interview

‘We go with different USPs’ – Phoenix Software MD on boosting 4% share with sister company Bytes

17 July 2025
VMware campus
Vendor

Smaller cloud partners ‘left in limbo’ amid Broadcom VCSP partner cull

16 July 2025
Adarma formally goes into administration, sparking 173 job losses
Cybersecurity

Adarma formally goes into administration, sparking 173 job losses

15 July 2025
Alan Paton, Qodea and Matt Iliffe, Beyond
M&A

‘We’re impatient’ – Qodea CEO hints at more M&A following Beyond deal

15 July 2025
Nebula-The Channel Recruiter montage
Careers & Skills

‘We’re doubling up’ – The Channel Recruiter leaps into contractor space

14 July 2025
Exertis HQ
M&A

Exertis IT finds £100m buyer

14 July 2025
Penny Williams, CDW
Big Interview

CDW’s Williams: ‘We’re going to be investing in our services business through organic investment and acquisition’

11 July 2025
Sagar Gandi, Nuvias UC
Distributor

Nuvias UC makes techie boast as it hits ‘huge’ migration milestone

10 July 2025
Next Post
Lars Schmermbeck, Senior Director Channel Sales, EMEA at Zebra Technologies

Zebra: ‘Our bigger partners want to work with vendors with a sustainability programme’

Follow Us

IT Channel Oxygen keeps you informed on the UK IT channel and its sustainable transformation. Learn more

  • About
  • Our Team
  • Partner with us
  • Privacy Policy
  • Terms & Conditions
  • News
  • Cookie Policy (UK)

© 2025 IT Channel Oxygen

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
No Result
View All Result
  • Oxygen 250
  • Must-Know Distributors
  • Member area
  • KOcycle Zone
  • Big Interview
  • News
  • Indepth
  • About
  • Partner with us

© 2025 IT Channel Oxygen