锘縊utsourcing company, Mitie, saw its share price drop after warning the City of delays in securing work before the end of the financial year.

锘縊utsourcing company, Mitie, saw its share price drop after warning the City of delays in securing work before the end of the financial year.

In an interim management statement on Monday the firm said that it had also failed to see any recovery in its property management business.

鈥淲e have seen little recovery in our more cyclical markets within property management and there is a risk of some delay in delivering both secured and prospective project work before the year end,鈥� it announced.

In response, Mitie鈥檚 share price dipped over 4% to 218p.

The statement did confirm that earnings were likely to be in line with management expectations.