Maxima Holdings plc, the IT business systems and managed services company

AGM Statement

At the Annual General Meeting of Maxima Holdings plc (AIM: MXM) to be held at the Company's offices at Cotswold Court, Lansdown Road, Cheltenham, GL50 2JA at noon today, the Chairman Kelvin Harrison will update shareholders on current trading as follows: 

'I am pleased to report that the new management team has settled in well and our plan to give Maxima greater focus on core areas of strength is already showing promising signs of success. The month of August produced the highest monthly sales bookings so far in 2009 confirming our belief that trading remains consistent with market expectations for the full year. We have increased our efforts in cash collection which is supporting the board's cash flow and net debt expectations for the full year. As part of our plan to simplify Maxima we have sold a small part of our communications service business, which was non-core to our support enablement services practice, while further activity to rationalise non core functions within the business is on-going. 

'Contracts with new customers have improved compared with the same period last year with first-time orders for Maxima solutions and services from 31 new customers. Enhancing our annuity revenue, a total of 26 multi-year contracts were completed and there were 49 examples of cross selling where existing customers made purchases from Maxima's wider solution and service enablement portfolio. 

'We have continued to drive for improvement in service and solution delivery. Some customers have experienced difficulty as a result of the economic downturn and we do all we can to assist them through the provision of a more cost effective IT service delivery. Other customers are enjoying greater success: AG Barr, the FTSE 250 Scottish based soft drinks manufacturer and distributor, signed a major contract with Maxima in August to migrate their existing MFG/PRO ERP business system to QAD Enterprise Applications 2009. This is designed to equip manufacturing companies with robust financial capabilities, supply chain management, enterprise asset management, and transportation and logistics management. Although we continue to invest heavily in sales and marketing at this time, Maxima will continue to put customer value and quality at the top of our agenda.'

A further update on current trading will be issued following Maxima's half year ending 30 November 2009.

For further information please contact:  

Maxima
Graham Kingsmill, Chief Executive Officer            01242 211 211
David Memory, Chief Financial Officer                01242 211 211

Cenkos (Nominated advisor to the Company) 
Stephen Keys                                               020 7397 8900 

Smithfield
Tania Wild / Reg Hoare                                   020 7360 4900 

Editor's Notes
For further information please contact:
Victoria Franks, Marketing Manager
+44 (0)1242 211 284
marketing@maxima.co.uk