TIDMMXM 
 
RNS Number : 5950V 
Maxima Holdings PLC 
14 July 2009 
 

+----------------------------------------+------------------------------------------+ 
| Embargoed until 0700                   |                           14 July 2009   | 
+----------------------------------------+------------------------------------------+ 
 
 
Maxima Holdings plc ("Maxima" or the "Company") 
 
 
Year End Trading Update 
 
 
Maxima plc (AIM:MXM),  the IT business systems and managed services 
company, today announces a trading update for its financial year ended 31 May 
2009. 
 
 
The Board is pleased to confirm that trading across the group remains steady and 
expects revenues and operating profits* to be in line with market expectations. 
Net debt at 31 May 2009 was GBP15.5m, slightly lower than expected having been 
reduced from GBP17.3m at the half year end, 30 November 2008. After scheduled 
repayments made during the year, total bank facilities currently available are 
GBP18.75m. 
 
 
Following recent management changes a full structural and financial review is 
being undertaken, the results of which will be outlined in the Preliminary 
Results on 4 August 2009. In respect of this, it has been prudently decided to 
make provisions for certain exceptional costs, including re-organisation costs. 
In addition, under IFRS, a full review of the carrying value of intangible 
assets is being carried out, taking account of current and anticipated market 
conditions and the weighted average cost of capital. It is expected that this 
will result in some impairment charges. These charges are expected to be largely 
non-cash items, although they are likely to result in an overall statutory loss 
being reported for the year. 
 
 
Maxima continues to derive more than half of 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 87 new clients having been won during the year (2008: 76). 
 
 
Maxima will announce its preliminary results for the full year, together with 
details of the proposed final dividend, on 4 August 2009. 
 
 
 
 
*pre amortisation/impairment of intangibles, share-based payments and 
exceptional charges 
 
 
Kelvin Harrison, Maxima's Chairman said: 
 
 
"This has been a year of major change for Maxima, against a backdrop of 
difficult market conditions, however we have continued to deliver strong 
operating profit margins. I am confident that the changes in business focus, 
direction and organisation introduced by the new CEO Graham Kingsmill, position 
us well for sustained organic growth." 
 
 
  For further information, please contact: 
 
 
+-----------------------------------------------------+------------------------+ 
| Maxima                                              | 01242 211211           | 
| Graham Kingsmill, Chief Executive                   | 01242 211211           | 
| David Memory, Group Finance Director                |                        | 
+-----------------------------------------------------+------------------------+ 
| Cenkos                                              | 020 7397 8900          | 
| Stephen Keys/Adrian Hargrave                        |                        | 
+-----------------------------------------------------+------------------------+ 
| Smithfield                                          | 020 7360 4900          | 
| Reg Hoare / Tania Wild / Will Henderson             |                        | 
+-----------------------------------------------------+------------------------+ 
 
 
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. 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. 
 
 
Maxima has 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, 
Citrix 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 
 
 TSTBLGDRUXBGGCX
Maxima Holdings (LSE:MXM)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Maxima Holdings Charts.
Maxima Holdings (LSE:MXM)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Maxima Holdings Charts.