Mitie trading in line with expectations
Outsourcing and energy services company Mitie said revenues and earnings had come in in line with expectations from 1 October 2011 to date.
Outsourcing and energy services company Mitie said revenues and earnings had come in in line with expectations from 1 October 2011 to date.
Mitie said its private sector sales pipeline remained buoyant and it have been awarded and retained work across a range of markets including recent deals with Friends Life and LV=.
In the public sector it said there was still a steady flow of contract awards and retentions.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are optimistic about the continued opportunities for growth for Mitie, but recognise the wider uncertainties in the global economy and in certain of our more cyclical markets," the firm said in a statement.
"The search for cost and energy efficiencies is a priority for governments and businesses across our markets, and delivering better quality services, innovation and efficiency is core to what we do."
In November Mitie announced revenues had grown 5.8% in the six months to the end of September, compared to the equivalent period of 2010.
Revenue for the half year hit £971.7m.
The firm, which provides services like waste management, security and energy efficiency certification for clients' buildings, also achieved profit before tax of £43.3m, a rise of 17.3%.
On adding "other items", however, the profit figure was not quite as spectacular, growing at just 0.8%.
-
Buying a property is cheaper than renting again – how much could you save?
News Zoopla research shows it is now 8% cheaper to buy than rent. We reveal the places where you can save more by getting on the property ladder.
By Marc Shoffman Published
-
Is now a good time to invest in India?
Should you invest in India? Its market has stood out of the emerging market pack, helped by a growing pool of domestic investors.
By Cris Sholto Heaton Published