Maintel’s revenue declined 0.2% to £46.5m for the six months ended July 2025, in line with expectations due to a small number of churned contracts offsetting a 20% growth in revenue from projects.
The Group’s recurring revenue represented 74.3% of total revenue, compared to 78.7% in H1 2024. Its gross profit decreased to £14.0m from £14.7m and gross margin decreased to 30.1% from 31.6% in the same period.
According to the report, this was driven by inbound inflationary pressure and a change in revenue mix, resulting from higher-margin upfront project revenue in H1 2024.
Adjusted EBITDA decreased by 29.2% to £3.4m, reflecting the increased employer costs, increased investment in IT systems and marketing in H1 2025.
During the half, Maintel secured over £20m of new business wins across government, healthcare, retail and housing. Its sales pipeline reached a record high, climbing to £75 million First Year Value at the end of H1 2025.
CEO Dan Davies said: “We saw encouraging momentum in our core technology pillars and entered the second half with the largest sales pipeline we’ve seen in recent years.
“The ongoing transformation of our organisational structure, cost base, ways of working and operational efficiency are all progressing as planned, ensuring that we are ready to deliver efficiently when the execution of our growth strategy comes to fruition.”