MXM Maxima Hldgs

    RNS Number : 0945K
  Maxima Holdings PLC
  15 December 2008
   

 Embargoed until 0700    15 December 2008  

    Maxima Holdings plc ("Maxima" or the "Company") 

    Half Year Trading Update

    Maxima Holdings plc (AIM:MXM), the integrated IT solutions and managed services provider, today announces a trading update for the six
months ended 30 November 2008. Maxima intends to announce its interim results for the period on 3 February 2009.

    The Board is pleased to confirm that trading across the group remains steady and expects operating profits* for the first half to be
slightly higher than last year.  Cash collection was good in the period; net debt was in line with plans at 30 November 2008 and is expected
to fall in the second half. Maxima has a stable financial position and the Company continues to have the full support of its bankers,
Barclays.

    Maxima continues to derive more than half its revenues from recurring managed service and support contracts and has achieved high levels
of contract renewals. The Company also continues to win and bid for significant new business with a total of 40 new clients having been won
during the first half (H1 2008: 35).  Macro-economic conditions are leading to some delays in decision making on some of the larger
opportunities and we are therefore cautious about the future impact of this. 

    The business of DXI Networks Ltd acquired 2 July 2008 has been integrated with Maxima's existing infrastructure managed service
business. Cost efficiencies have been achieved and it is performing well. 

    *pre amortisation of intangibles, share-based payments and exceptional charges

    Kelvin Harrison, Maxima's Chief Executive said: 

    "Macro-economic conditions are challenging. However, Maxima has had a steady first half and has a resilient business model and stable
financial position.  

    "We continue to place a strong emphasis on cost control and will only pursue further acquisition opportunities where there is a
substantial opportunity to create shareholder value with low levels of risk."

    For further information, please contact:

 Maxima                                         
 Kelvin Harrison, Chief Executive           01242 211211
 John Taylor, Group Finance Director        0141 880 1000
 Cenkos                                         
 Stephen Keys/Adrian Hargrave               020 7397 8900
 Smithfield                                     
 Reg Hoare / Katie Hunt / Will Henderson    020 7360 4900

    Notes to editors:

    Maxima Holdings plc floated on AIM in November 2004 at an issue price of 110p. It was established to acquire businesses supplying IT
solutions and services, with the objective of building a focused IT services group. On flotation it immediately acquired Azur Holdings Ltd,
bringing together a management team with the skill, experience and incentive to deliver significant shareholder value, through a combination
of acquisitive and organic growth. The business implements and supports enterprise software solutions for mid-sized, UK-based manufacturing,
distribution and service organisations. These solutions are based upon leading software suites as well as products developed in-house.

    It has since made a further eleven acquisitions:

    *     August 2005 - Ringwood Group plc, a specialist in content and document management solutions, based on Microsoft technologies;
    *     September 2005 - Hanston Technology Partners Ltd, a fast growing managed services business providing applications support and
consultancy services to Oracle users;
    *     January 2006 - The MFG/PRO business of Seabrook Research Ltd, the sole Irish distributor of MFG/PRO, a manufacturing package for
which Maxima was already the sole UK distributor;
    *     May 2006 - QED Business Systems Ltd, which provides managed services for critical mainframe and mid-range computer systems and
applications software; 
    *     October 2006 - Cognition Solutions Ltd, provider of enterprise software solutions to the construction and facilities management
sector; and
    *     November 2006 - IIL (Intertech Solutions Ireland) Ltd, which provides IT infrastructure solutions and managed services based upon
Citrix technologies; and
    *     March 2007 - SevenThree Ltd, supplier of customer relationship management software solutions to the construction sector
    *     May 2007 - 3net Limited, an IT Services business, providing consultancy, solutions delivery and managed services in networking and
security infrastructure. 
    *     July 2007 - Centric Networks Ltd, which provides managed services for infrastructure software to a broad range of clients in the
mid-market; and 
    *     January 2008 - Eclectic Group Limited, which supplies software, consultancy, support and training in the areas of Business
Intelligence and Corporate Performance Management (CPM); and
    *     July 2008 - DXI Networks Ltd, a provider of converged Information and Communications Technology (ICT) services to business
customers


    Maxima has grown to become an IT systems integration and managed services company with a proven track record of delivering innovative
and flexible IT solutions and services. Maxima's in-depth knowledge of industry and business, coupled with its skills and understanding of
leading software suites such as Oracle, Microsoft and SAP ensures its solutions and services deliver real business benefits. The group
prides itself on the quality of its service, which leads to strong customer relationships and high retention rates.


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
TSTBRBDDBSBGGID

Maxima Holdings (LSE:MXM)
Historical Stock Chart
From Jun 2024 to Jul 2024

Maxima Holdings (LSE:MXM)
Historical Stock Chart
From Jul 2023 to Jul 2024