25 May 2012

Maintel shares surge

02/02/2012 Miles Nolan

Telecoms to data specialist Maintel (MAI) has enjoyed a 70 per cent surge in its share price since last October, driven by strong demand from retail buyers.

The AIM-listed company has unveiled a positive statement in which it states that profits for the year to December 2011 will be 'moderately ahead' of market expectations. Maintel has enjoyed solid levels of growth, with improved profitability in its maintenance and network services arm.

It has also secured a solid performance from its acquisition last year of Totility, a business that has delivered 1,100 customers (largely from O2 and Vodafone) and 12,000 mobile connections. The integration is going to plan and, moreover, Maintel is enjoying decent levels of cross-selling.

We highlighted Maintel in Growth Company Investor last June at 245p, then again in October at 220p. The price is now up 30p to 382.5p, which is a new high for the shares and represents a 2011 multiple of 14 times earnings. At current levels, Maintel, with its strong cash generation and solid recurring income, is worth holding.

Tags: AIM market, Cash generative, Good results, Solid trading

Sector: Support Services

Companies: Maintel

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