Mitie shares slide post rights issue
Just over 805mln new shares were admitted from the £201mln rights issue
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 2 of 6
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