Mitie Group plc announces year-end results

Facilities management company Mitie has announced its results for the six months ended 31 March 2015.

Mitie. Image: Supplied
Mitie. Image: Supplied

The FTSE 250 company’s headline results reflect strong revenue and earnings growth, with revenues up 5.8 per cent to £2,266.2m.

It also saw organic growth of 6.1 per cent in facilities management, where it provides services including grounds maintenance, litter picking, weed control, fencing and interior planting. 

Operating profit before other items increased by 0.9 per cent to £128.6m.

Chief executive Ruby McGregor-Smith said: "Mitie has made good progress this year. We have re-positioned the business and lowered our risk profile. Our facilities management business accounts for cerca 85 per cent of group revenue and is a UK market leader.

"We see considerable opportunities across our markets, to provide clients with higher quality, innovative services that save them money. We also see this as a positive environment in which to start and grow new businesses, and we plan to back entrepreneurs to do this through our £20million ‘Mitie Model’ entrepreneurial fund."

The company was focusing on generating cash-backed profits, maintaining strong margins and growing dividends, she said. A large order book and sales in the pipeline meant the company was well-placed to deliver strong growth in the future. 

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