If only...
Be glad you didn't buy...
Mitie Group (LSE: MTO) provides services to owners and occupiers of commercial and industrial properties. The outsourcer, which was hit by several profit warnings and investigations by financial regulators last year, came under scrutiny after Carillion's collapse in January this year. However, in June it reported a pre-tax loss of £24.7m, down from £58.2m the previous year, while revenues rose 3.8% to £2.2bn. Mitie's chief executive Phil Bentley claims the firm's turnaround is on track and that it will return to profit this year as cost saving measures start to take effect.
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