17 June 2010

Maxima Holdings plc

Full Year Trading Update

Notice of Results

Maxima Holdings plc ("Maxima" or "the Company"), the IT business systems and managed services company, today announces a trading update for its financial year ended 31 May 2010 and its notice of results.

Trading update

The Board expects the Company's results to be in line with market expectations. Our underlying trading performance has strengthened as the year progressed and we are beginning to see the benefits of our updated business strategy. Cash generation has again improved, with net debt reducing to £11.8m as at 31 May 2010 (31 May 2009: £15.5m).  

The Company has recently completed negotiations in respect of renewed banking facility agreements with Barclays Bank. The fees relating to the new facilities have been included as an exceptional item in the accounts, and as a result the Company now expects to report exceptional charges of approximately £1.8m for the year (of which £1.3m was reported at the half year)

Maxima's focus on its core areas of strength and competence is beginning to show return with a 31% increase in contract booking levels during the second half of the year. Highlights include new "Cloud" type IT Infrastructure and Virtualisation contracts valued in excess of £6.2m for contract periods of up to 3 years and new customer orders for the implementation of Microsoft Dynamics AX/CRM coupled with the Maxima developed industry business solution, Maxcel, exceeding £1m for implementation over the next 12 months.

Notice of results

Maxima will announce its final results for the year ended 31 May 2010 on 4 August 2010. A further update on trading will be provided at that time.

Maxima CEO, Graham Kingsmill said:

"I am pleased with the progress of the last 12 months. Our trading performance is beginning to show the benefits of our efforts to re-engineer Maxima so that our technology, infrastructure and business solutions align with the requirements of Cloud based services. Our customers are showing us where they are prepared to invest, and I believe we are responding very well to these opportunities".

For further information please contact:

Maxima Holdings plc
Graham Kingsmill                                              David Memory
Chief Executive Officer                                        Chief Financial Officer
Tel: +44 (0)1242 211 211                                    Tel: +44 (0)1242 211 211

Cenkos (Nominated advisor to the Company)
Stephen Keys / Beth McKiernan 
Tel: +44 (0)20 7397 8900

Hogarth PR
Reg Hoare / James White / Vicky Watkins 
Tel: +44 (0)20 7357 9477

About Maxima:

Maxima (AIM:MXM) is a leading IT business  systems and managed services company, providing Business Solutions and Support Enablement Services to over 1,400 organisations across the UK, Ireland and the USA. The company's core service offerings include virtualisation, network infrastructure and communications, business intelligence and comprehensive Microsoft Dynamics AX/CRM solutions for key sectors including construction, manufacturing and services. For more information about Maxima, please visit www.maxima.co.uk.