Maintel Holdings Plc (MAI.L), in its latest trading update on Tuesday said that it is cautiously positive of meeting the market expectations for fiscal 2025, which will be dependent more on the performance of the second half of the year.
The company noted that in the first half, there was lesser conversion rate of sales bookings, while the second half reported good growth.
On the LSE, the stock was down 11 percent on Monday's after trading at 212.60 pence.
In the trading update, the communications services provider said that improved revenue has led to increased sales momentum after a lesser-than expected beginning to the year. Revenue benefited from new contracts being signed with old and new customers across its main divisions, namely, Security and Connectivity, Customer Experience, and Unified Comms and Collaboration.
Maintel Holdings maintained that it still has numerous economic challenges, such as higher employment costs. To manage this, the company has taken steps to reduce the impact, and the positive effects of these actions are expected to start showing in the second half of fiscal 2025, aimed at increasing earnings.
The company said that as a part of its business transformation, a new Chief Operating Officer has been appointed, who will join in the summer. This step is expected to further enhance the Operating Board's expertise as the company looks to achieve new targets.
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