3 June 2025

Maintel Holdings Plc
("Maintel" or the "Company")

AGM Trading Update

Maintel Holdings Plc, a leading provider of cloud and managed communications services, issues the following trading statement ahead of its Annual General Meeting later today.

During the first five months of the year, the Company was focused on delivering continued pipeline growth across its focus technology pillars, while planning the next phase of its transformation leveraging internal process and system efficiency, spend optimisation and operational gearing.

Revenue performance reflects growing sales momentum after a slower than expected start to the year. New contracts were signed with existing and new customers within target growth vertical sectors and across its focus technology pillars: Security and Connectivity, Customer Experience, and Unified Comms and Collaboration. The first half contract wins included a significant central government managed service contract through a large global service provider. There continues to be a client-led variation in the delivery of sales bookings, with a trend for long contracting cycles, and some projects experiencing longer than anticipated delivery lead times.  

As previously announced, the Company continues to contend with widely publicised macroeconomic headwinds, including increased employer-related costs. In response, Maintel has implemented mitigation measures, with the initial benefit of these expected to be realised during the second half of the year, boosting profitability. This, combined with the slower conversion of some sales bookings in the first half and the solid progress on pipeline growth for the second half, means the Board remains cautiously optimistic of meeting market expectations for the current year which will be second half weighted.

The Company has continued to enhance its differentiation in the market, supported by its continuous intellectual property innovation. Its new AuditTrack App will shortly be launched on the Maintel Application Platform, providing a unique way to track historical configuration changes made within the Genesys platform and meeting the demand of some of the Company's larger customers. In addition, a new strategic partnership has been agreed with Zoom Communications, combining Zoom's market leading AI embedded meeting, collaboration and hybrid working platform, with Maintel's pedigree in managed services, voice and network delivery, further broadening the platforms on offer to customers to support their digital transformation journey.

As part of its business transformation, the senior leadership team has been further strengthened, with the appointment of a new Chief Operating Officer who will join the business in the summer. This will further enhance the Operating Board's expertise as the Company pivots from a generalist to a specialist managed service provider.

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Notes to editors

Maintel Holdings Plc ("Maintel") is a leading provider of cloud communications, security and connectivity managed communications services to the UK public and private sectors. Its services aim to help its clients create customer experiences, services and workplaces that inspire and empower people, with a focus across three strategic pillars of technology:

·   Unified Communications and Collaboration - Making customers' people more effective, efficient, and collaborative with UC&C technology. The core focus of this pillar is the high growth Unified Communications as a Service (UCaaS) market segment.

·     Customer Experience - Helping customers to acquire, delight and retain their customers using customer experience technology. The core focus of this pillar is the high growth Contact Centre as a Service (CCaaS) market segment.

·   Security & Connectivity - Securely connecting customers' people, partners and guests to their cloud platforms, applications, and data with secure connectivity, and protecting their business from cyber threat. The core focus of this pillar is the high growth Software Defined Wide Area Networking (SD-WAN) and Security Service Edge (SSE) segments.

Maintel combines technology from its strategic, global technology vendor and carrier partners, with its own Intellectual Property, deployed from and managed by its own platforms, to provide seamless solutions that its customers can consume without the need for the internal skillset required to design, deploy and manage the technology themselves.

Maintel serves the whole market, with a particular focus on key verticals of Financial Services, Retail, Public Healthcare, Local Government, Higher Education, Social Housing and Utilities. Its core market constitutes organisations with between 250 and 10,000 employees in the private, public and not-for-profit sectors with headquarters in the UK.

The Company was founded in 1991 and it listed on London's AIM market in 2004 (AIM: MAI).