Shares in Maxima Holdings climbed by 9% at one stage yesterday after the software company posted a 24% rise in full-year pre-tax profit and said current trading is robust and ahead of last year, despite the slowing economy.
Shares in Maxima Holdings climbed by 9% at one stage yesterday after the software company posted a 24% rise in full-year pre-tax profit and said current trading is robust and ahead of last year, despite the slowing economy.
Maxima said the current economic downturn will create more acquisition opportunities for the group, which has bought 11 companies since listing on London's Alternative Investment Market in 2004. The group has won new clients and bought Centric Networks.
The company, once part of the Glasgow-based Weir Group, said trading continues to be robust, with the current year ahead of the previous one despite the slowing economy.
"We continue to be confident that our high levels of recurring revenues from our large, diverse and stable client base will provide a foundation for continued growth and that we will accrue the expected benefits from recent acquisitions during the year,' said chief executive Kelvin Harrison.
For the year to year to May 31, the software provider's pre-tax profit rose to £5.2m from £4.2m a year earlier while revenue rose to £46.7m from £31.8m.
It declared a final dividend of 3.6p, taking the total up to 5.6p from 5.2p.
"We continue to find good value opportunities for further acquisitions; we will pursue these selectively and would expect to finance them through a combination of operating cash flows and prudent use of bank facilities," the company added in a statement to the London Stock Exchange.
Shares in Maxima ended the session 8.5p higher at 146p - a gain on the day of 6%.
Maxima is the UK manager of computer systems for Balfour Beatty and France Telecom's Orange unit.
Last month, the group confirmed completion of its £8.5m acquisition of DXI Networks.
The deal, payable in cash, is being financed from an increase of existing facilities with Barclays. DXI employs 50 staff in London in its own data centre and 30 in Hyderabad, India.
