Company
Mitie Group PLC
LON:MTO
MITIE Group PLC is a holding company. The Company, through its subsidiary, is engaged in the provision of services in support of the buildings and infrastructure. It is organized in three divisions: facilities services, property services and engineering services. Facilities services offer integrated facilities management and a range of services including, asset management, energy consultancy, document management, front of house, catering, cleaning, engineering maintenance, landscaping, pest control, security, waste and environmental management. Property services offer roofing, repairs and redecoration, interior fit-out, plumbing and heating, social housing maintenance and refurbishment, and fire protection. Engineering services offer services, including mechanical and electrical, energy generation and management, technology, and infrastructure. In March 2008, it completed the acquisitions of Catering Partnership Holdings Limited and DW Tilley Limited.
106 stories · page 1 of 2
Mitie makes good impression with triple-whammy
The outsourcer's various statements included the £12.4mln acquisition of Custom Solar, which specialises in solar power systems for public and private sector clients
Mitie shares plunge following competition investigation announcement
Shares in Mitie fell more than 10% after investigation over procurement bids at Heathrow and Derwentside immigration removal centres
Mitie positions itself for 5G roll-out with £15mln infrastructure buy
The telecoms industry will roll out a full 5G network over the next 3-5 years
Mitie a ‘buy’ for Peel Hunt after return to organic growth
Trading benefitted from eased restrictions and an increase in revenues from services against COVID-19, such as security and cleaning
MITIE slips as pandemic dents profits
The facilities management firm also said it expected that its variable and project work “will continue to be suppressed” by the continuation of lockdown measures in the UK
Mitie enjoys another quarter of strong growth
Mitie has renegotiated the terms of the acquisition of the facilities management arm of Interserve, substantially reducing the shares element of the consideration
Mitie rises as business more resilient than expected in first quarter
The company said its fixed technical services contracts had held up better than predicted, as well as its cleaning and security services and public sector contracts
Archive
Mitie investigation closed by accountancy regulator after three years
An investigation into accountant Deloitte’s audit of the numbers for that year and the previous year to March 2015 is still ongoing
Mitie shares slide post rights issue
Just over 805mln new shares were admitted from the £201mln rights issue
Mitie says full-year profit, revenues to be in line with guidance
The facilities management firm saw “continued improvement” in year-end net debt, which was £80mln
Archive
Mitie withdraws guidance as coronavirus outbreak escalates
The facilities management group said discretionary project work was being “significantly deferred”, although demand for its cleaning and security services from food and online retailers was increasing
Mitie wins contract extension with Lloyds
Mitie said the deal is expected to generate revenues of about £170mln per year.
Mitie sells catering arm to CH&CO for £85mln
Mitie Catering employs 3,600 people at over 330 sites across the UK and Ireland.
Archive
FTSE 100 ends in positive territory as news on China-US trade boosts markets
Britain's blue-chip index clocked off 24.18 points higher at 7,250.90
Investments and investor services
UK jobs data to take macro spotlight on Tuesday; pawnbroker H&T to report finals
While unemployment has been at its lowest levels since 1974, Brexit uncertainty has some employers ready to pump the brakes on their hiring
Rentokil and Mitie kept waiting over pest control deal
Competition and Markets Authority wants another two months to sniff over the deal
Mears reiterates 2019 guidance, forecasts slight reduction in net debt in first half
The firm said that in the first part of the year it had secured three regions of the asylum accommodation and support contract, issued by the Home Office
Archive
Mitie surges as full year profit beats prior estimates
For the year ended 31 March 2019, the company reported an operating profit before other items of £88.2mln, just above the £84-£87mln range predicted in a March trading update
Archive
FTSE 100 closes higher led by defensive stocks
Footsie closed up 39 at 7,259, while mid-cap cousin FTSE 250 went the other direction, shedding over six points to close at 19,065
Archive
Aviva and CMC Markets in spotlight for busy Thursday
Investors look forward to a strategy update from Aviva's new boss, meanwhile, they are braced for CMC Markets results after the recent profit warning.
Builders and building materials
Kier gives short-sellers a boost after profit warning sends shares crashing
About 4.75% of Kier’s shares are on loan to short sellers, according to website www.shorttracker.co.uk
Archive
US jobs data, ECB policy decision to make for up meagre flow of corporate news in coming week
Asides from the macro news, the Week Ahead also brings the latest quarterly FTSE indexes reshuffle, a strategy update from insurer Aviva, and results from Auto Trader
Watchdog says it may allow Rentokil to snap up Mitie Pest Control
CMA had previously smelt a rat as it felt the merger could result in a “substantial lessening of competition”
Rentokil Initial must offer proposals to address CMA concerns regarding takeover of MITIE's pest control unit
The CMA said: "Having considered a wide range of evidence, it (CMA) has found there could be a substantial reduction in competition, which may lead to higher prices or reduced quality for customers”
Archive
Mitie weak as Jefferies cuts rating to ‘hold’ from ‘buy’ after reducing its target price and estimates
The US broker's analysts reduced its full-year 2019/2020 earnings per share estimate for the FTSE All-Share-listed group by 21%, leading it to cut its target to 150p from 260p
Archive
Mitie shares tank as it expects profits to rise but order book to weaken
Mitie said it is "well-positioned for future growth despite a challenging backdrop in the industry and political uncertainty"
Archive
FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
Archive
Clothes retailers Next and Ted Baker in the spotlight on Thursday
Not much excitement is expected from the Bank of England, so investor attention will instead be on two of the UK’s troubled clothes retailers: Ted Baker and Next
Mears weak as 2018 revenue falls, profit misses estimates, and net debt above-forecast
The company said 2018 revenue was hit by subdued demand for both housing and social care services, with housing revenue falling by 1.7% and care revenue down 13%
Interserve awarded £660mln in public contracts in lead up to collapse, says union
Mitie has reportedly approached Interserve's administrators to express interest in buying the outsourcer's support services arm for between £100mln and £150mln
Archive
Retail results to vie with 'Meaningful' Brexit vote, UK, US rate decisions, and key data
DIY stores owner Kingfisher, clothing retailer Next, plus troubled fashion firm Ted Baker will report full-year results, with trading updates due from internet grocer Ocado and online fashion group ASOS
Archive
Interserve weak as Kier Group cash call comments spark concerns for constructors
A look at some of the London market's biggest risers and fallers on Monday
Archive
Mitie's first-half profits decline as it carries out turnaround plan
Mitie said its turnaround plan was delivering in line with plan in the second year of implementation
FTSE 100 closes firmly in the red as PM Theresa May says Brexit deal within grasp
The UK blue-chip benchmark closed down nearly 90 points at 6,960, while the FTSE 250 shed nearly 55 points
Archive
No profit warning repeat hoped for from British Gas owner Centrica
Aside from Centrica, the Day Ahead includes updates from the likes of water firm Severn Trent, booze retailer Majestic Wines, and pubs operator Mitchells & Butlers
Investments and investor services
Versarien agrees to joint-venture in China's Jinan innovation zone
A look at the day's rippers & kippers, including Centaur Media, Kromek Group, Active Energy, Haydale Graphene, Pipehawk, Mears Group, Rockfire Resources and Greatland Gold
Mears to raise £22.5mln in placing to fund Mitie social housing unit purchase
The support services firm said the £22.5mln acquisition would reinforce its market position, providing synergy benefits and a broader UK national coverage
FTSE 100 closes in red as Wall Street shares lag; Brexit exhaustion
The UK blue-chip benchmark finished down over 27 points at 7,026, while the FTSE 250 closed down over 52 points at 18,961.
Archive
Sales acceleration expected from Unilever after Marmite maker's Dutch move stymied
Aside from the latest trading news from Unilever, the Day Ahead includes updates from blue-chip peer Rentokil Initial and FTSE 250-listed Domino's Pizza
Housebuilders in focus as Barratt Developments and Bellway update on trading
The week ahead includes full year results from Bellway and ASOS, interims from Gear4Music and trading updates from Barratt Developments, Segro, Unilever, Domino's Pizza and Rentokil
Archive
Mitie adds to security business with £14mln acquisition of Compass Group subsidiary
The combination will offer opportunities to accelerate the growth of Mitie's premium technology-enabled and intelligence-led security solutions, the company said
Archive
Mitie shares fall as it sells pest control division to Rentokil for £40mln
The proceeds will be used predominantly to strengthen the balance sheet and pay down some of the outsourcer’s pension deficit
FTSE 100 closes in red; Royal Mail delivers share plunge
The UK blue-chip index closed down around 14 points at 7,495 as the stronger pound weighed
Not so high and MITIE
A look at the day's major movers, featuring MITIE, Imaginatik, Mobile Streams, Directa Plus, the AA and boohoo
Archive
Mitie sees flat to lower annual profit as order book declines
Mitie is investing to drive growth - it expects its business transformation plan to deliver around £40mln of in-year cost savings, at a cost of £15mln
Investments and investor services
FTSE 100 closes near flat as traders sit on hands ahead of Fed
The UK blue-chip index closed nearly four points higher at 7,511
Archive
Expected US interest rate hike to draw the attention Wednesday, as Trump trade wars rumble on
Aside from the US interest rate decision, corporate updates are due from online fashion retailer Boohoo Group, outsourcer MITIE, and automotive services firm The AA ...
Archive
MITIE Group shoots higher as US broker Stifel upgrades its stance to ‘buy’ from ‘hold”
The US broker's analysts noted that the outsourcing group's "valuation is at 8-year lows, which we view as attractive for a business improving its proposition, tackling leverage head-on and set to deliver double-digit earnings CAGR”
Hardware & electrical equipment
Seeing Machines says Ken Kroeger to become permanent CEO after appointment of new chairman designate
The AIM-listed advanced computer vision technology company, said Jack Boyer, who becomes a non-executive director of the company with immediate effect, will take over from Kroeger as chairman on 1 January 2019
Government to bring in tougher contract terms for outsourcers following Carillion’s collapse
Carillion went bust back in January, leaving the government scrambling to find cover for the services which it should have covered
Archive
MITIE shares fall on Numis downgrade
In a note to clients, analysts at Numis said that MITIE’s financial year 2018 results were in line with expectations, but expectations had been reduced
Archive
Full-year profits fall at Mitie but boss says outsourcer ‘where it needs to be’
Mitie implemented its Project Helix restructuring programme last year in an attempt to reduce costs and improve productivity in a “challenging” market
FTSE 100 ends in the red as Brexit wrangling weighs on sentiment
The UK's premier share index closed down 7.97 points, or 0.10% at 7,704
Investments and investor services
CMC Markets, Auto Trader and MITIE all in focus ahead of Thursday results
One City broker expects CMC to reveal a 22% jump in pre-tax profit in its results tomorrow.
Archive
It's the scrag-end of the corporate reporting season, but an update from WH Smith could excite
Aside from a trading update from WH Smith, the Week Ahead will also bring full-year results from the likes of AO World, CMC Markets, Auto Trader, and MITIE Group
Archive
Mitie's fitful turnaround progress makes it worth a punt, RBC believes
"Mitie's end markets remain highly fragmented and with the demise of Carillon and question marks against other providers, there should be the opportunity for scale players such as Mitie to take market share"
Archive
Mitie Group expects to see “modest” revenue growth in wake of Carillion collapse
The collapse of Carillion has presented fundamental questions about the outsourcing industry, according to Mitie chief executive Phil Bentley
FTSE 100 heats up ahead of chilly weekend
The top-share index rallied in the afternoon session to close at 7,164, up 24 points on the day
Archive
JD Wetherspoon set to unveil solid interims
Wetherspoon founder will deliver his usual lengthy rant about Brexit; somewhere in the statement will be some decent numbers relating to the pubs group's performance
Wednesday could be red letter day for Royal Mail if return to FTSE 100 status confirmed
The latest quarterly FTSE indexes reshuffle will be announced after the market close on Wednesday, Royal Mail looks like it’s going to stage a return to the blue chips, with property company Hammerson PLC falling out
Archive
Mitie Group confirms withdrawal from planned Property Management business sale
The support services firm said its board “considered all indicative offers received for this profitable business, and concluded that none were at a sufficient level with which to proceed.”
Archive
Mitie clarifies reports of an investigation into its 2016 results by UK's FRC
Mitie Group said that the company itself was not being investigated by the FRC
Archive
Week ahead: UK Budget, EasyJet, Kingfisher, Mothercare, William Hill, United Utilities
The week ahead centres on the Autumn Budget but also sees updates from EasyJet, William Hill, Kingfisher, United Utilities, Mothercare and Fuller Smith & Turner
Archive
MITIE axes 480 jobs as costs of recovery plan rise
Mitie also warned it has lost one of its top 20 contracts
Archive
Mitie Group says it is being investigated by the FCA over the "timeliness" of its profit warning last September
In a brief statement, the FTSE 250-listed firm said the FCA had informed it on August 25 about the investigation, which will also look at the manner of preparation and content of Mitie’s “financial information, position and results for the
Investments and investor services
FTSE 100 closes higher as Chinese data bolsters miners
The blue-chip index has traded sideways since about 8.30 this morning
Capita boosted by 'positive profits warning', with no bad news proving good news for an outsourcer once again
Like Mitie, Capita’s 15% share price leap came after the group’s AGM statement and trading update showed no new bad news after a turbulent past year for the firm
Archive
‘Things can only get better’ could be a good theme song for Mitie as its shares jump despite dire full-year
Russ Mould, investment director at AJ Bell, said: “Investors are clearly deciding that the Mitie numbers are so bad that they cannot get worse and that if they cannot get worse then they can only get better”
BP confirms backing for Sirius Petroleum in Nigeria
Risers and fallers: Greatland Gold moves into cobal, Mitie steadies the ship
Archive
Mitie shares jump as pipeline improvement offsets expected hefty full-year operating loss
For the year ending March 31, the FTSE 250 firm posted an operating loss of £42.9mln, a turnaround from a £107.6mln profit a year earlier, after £34.5mln accounting adjustments
FTSE 100 finishes lower amid UK political uncertainty and US tech sell-off
Around 8.45am, the UK blue chip index was about 24 points lower at 7,503, having gained around 1% on Friday after international stocks benefited from sterling’s falls
Archive
Tesco set for strongest quarter in seven years
Week ahead: Tesco, Merlin Entertainments, Capita, Bellway,
Archive
OPEC tipped to agree production cut extension
Day ahead: OPEC meeting in Vienna, Halfords preliminaries ...
Archive
Marks & Spencer's womenswear woes under scrutiny again as retailers dominate
Week ahead: Marks & Spencer, Dixons Carphone, Kingfisher, De la Rue...
Archive
Aggreko and UNITE Group make it to the podium for "Dividends don't lie" portfolio
Aberdeen Asset Management heads for the exit, but Aggreko and UNITE have emerged as worthy replacements
Archive
Mitie sees shares jump as revenues hold steady even as it takes further write-downs
The firm said it will write-down £40mln-£50mln after its auditor, KMPG found that the way it booked work-in-progress on long-term contracts and costs relating to contracts was less conservative than rivals
Archive
Dividends don't lie revisited: two new ingredients for the pot but RPS is removed
It is still early days for the Dividends Don't Lie experiment but already one is heading for the exit and two more are asking to be let in.
Archive
Mitie Group sells social care business for £2 in wake of profit warning
Mitie expects to incur further losses in its full year results after offloading its UK social care business for £2
Archive
Dividends don't lie ... but which stocks might be fibbing?
Having coughed up four candidates for a portfolio based on the principles of the "Grand Dame of Dividends", Geraldine Weiss, which stocks survive closer scrutiny?
Dividends don't lie ... but which stocks might be fibbing?
Having coughed up four candidates for a portfolio based on the principles of the "Grand Dame of Dividends", Geraldine Weiss, which stocks survive closer scrutiny?
Archive
Do dividends still not lie? (A word to the Weiss)
Investment guru Geraldine Weiss had a lot of success way back when, buying blue-chip shares approaching the top of their historical dividend yield range
Do dividends still not lie? (A word to the Weiss)
Investment guru Geraldine Weiss had a lot of success way back when, buying blue-chip shares approaching the top of their historical dividend yield range
Archive
MITIE issues third profit warning in four months
New boss Phil Bentley joined in October and is clearly in "kitchen sink" mode
FTSE 100 edges higher despite Pearson share dump
FTSE 100 shares closed higher on Wednesday, in spite of investors dumping shares in educational publisher Pearson
FTSE shares end flat despite resources stocks early lift
FTSE 100 stocks closed flat on Monday despite an early sprint by mining and energy stocks. Meanwhile, fund manager Henderson Group had sobering news for investors seeking dividend income
Trending: Lady McGregor-Smith and World Porridge Day
The difference between a Skinny Tan and a tinnie scan is explained.
Broker slashes Capita target due to Brexit concerns
Capita has already issued a major profit warning but more pain may be on its way said the broker.
Archive
Mitie shares plunge as it feels cold wind of cuts
Support services group warns on profits as trading worsens