Maintel has delivered positive

fiscal year 2023 first half results

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September 19th, 2023

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Maintel has delivered positive fiscal year 2023 first half results 

These results demonstrate a bounce-back from the circumstances that accumulated to create the challenges experienced during the second half of fiscal year 2022.

FX exposure is minimised, supply chain shortages have eased; and although in the public sector, where contract awards are moving from 3 to 5 years, there has been a resultant a slowdown in tenders. The change in the framework may lead to an increase in tender activity in the second half of fiscal 2023.

The group reports progress in the private sector, where contracts won in the first half are now in the process of delivery.

Also, the group continues to unwind the substantial order book built up in FY22. New contracts in the period included Kingfisher, Harrods, Vanquis Banking Group, Angus Council, Northampton NHS Trust and the Leeds Teaching Hospital.

TCV of £25m was won in the period, of which £17m is multi-year recurring revenue. The sales pipeline currently stands at £32m.

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