Mitie trading in line with expectations

published 30 January 2012

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.

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"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%.