Maxima Holdings, the IT business systems and managed services company that put out a profits warning in March, fell £9.6m into the red for the year to May 31 in spite of a £10m increase in sales.

The loss, which compares with a previous pre-tax profit of £5.2m, was struck after an £8.4m goodwill impairment charge and £3.6m of exceptional redundancy and reorganisation costs.