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%
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.
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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
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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
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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
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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
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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.
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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
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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
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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
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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
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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 ...
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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”