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Maintel

September 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MAI
  • Price:
  • 255p
Contracts closing later than expected across three key growth markets (security and connectivity; customer experience; and unified comms and collaboration) means this year’s results will be H2 weighted. But Maintel’s H1 update looks decent enough. Although sales were flattish at £46.6m, this was against last year’s tough comparables and EBITDA is up 29% to £4.8m driven by last year’s restructuring. Net debt has fallen by £2.5m to £15.6m in the period. Cavendish reckons in this H2-weighted year, H2 sales will come in at £56.4m (55% of £103m revenue) suggesting scope for a ‘beat.’ Interims are due 19 September; buy. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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