Maintel Holdings (GB:MAI) has released an update.
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Maintel Holdings Plc, a leading cloud and managed communications services provider, reported a significant financial turnaround with a 107% increase in Adjusted EBITDA to £9.1m and an 11.3% increase in revenue to £101.3m for the year ended December 31, 2023. The substantial financial improvements were attributed to a strategic business transformation that led to revenue growth and cost reductions. Despite the positive developments, the company recorded a loss before tax of £6.8m, mainly due to exceptional restructuring costs.
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