STOCK WATCH

MAINTEL Holdings reported that revenue climbed 54pc year on year to £38.1m in the six months to June 30.

However, shares plummeted yesterday as the firm, which sells and installs telecoms systems, published interim results.

It said net debt was better than expected at £27.1m and it had a strong order backlog for the second half of the year.

The firm said it was on track to meet full-year profit expectations. But a pre-tax loss of £696,000 in the first half, down from £2.1m a year ago, saw shares drop 12pc, or 135p, to 995p.