Maxima Holdings, an AIM-listed provider of IT systems and managed services, is still looking for suitable acquisition targets, according to its chief executive.

Maxima Holdings, an AIM-listed provider of IT systems and managed services, is still looking for suitable acquisition targets, according to its chief executive.

Kelvin Harrison said despite the slowing economy the group’s trading continues to be robust, providing a foundation for continued growth.

While unveiling the group’s latest results, he confirmed the strategy of building a group through buying IT systems and managed services providers that it adopted in 2004 will continue.

In the year to June 2008, the group made a pre-tax profit of £5.2 million, a rise of 24 per cent on last year’s figure. Its turnover was £46.7 million, up almost 50 per cent on the £31.8 million it made 12 months ago.

“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,” Harrison added.

In the year to June, the company made two acquisitions, Centric Networks and Eclectic Group, for a combined £9.3 million, funded by shares and debt.

Showing its intent to stick to its acquisition strategy, the group bought DXI Networks in July for £9.1 million.