Maintel expects earnings at top end of guidance

Communication services Maintel traded "comfortably" in line with revised market expectations in its recently wrapped up trading year.

Maintel expats to report an EBITDA at the top end of its guidance thanks to accelerated growth in cloud sales during the fourth quarter, taking the number of contracted cloud seats on its ICON platform to roughly 70,000 following the launch of its new ICON Connect SD-WAN proposition.

The AIM-listed group also highlighted two significant new multi-year public sector contracts awarded in the fourth quarter, which will become the firm's "largest cloud unified communication customers to date", as providing it with an improved outlook.

Looking forward, Maintel remains confident that it will be able to deliver growth in both revenues and earnings.

Maintel said: "This growth will be underpinned by the full year impact of the Unify customer base acquired on 29 June 2018 and continued growth in the ICON cloud business, as well as the implementation of margin enhancing initiatives across the business."

As of 1010 GMT, Maintel shares had shot up 13.48% to 480p.