Outsourcing group announces 拢47m pre-tax profit in half year results
Outsourcing specialist Mitie has reported a 12% increase in pre-tax profit to 拢47.5m in its half-year results, up from 拢42.3m for the same period in 2009.
Revenue six months to 30 September was also up, increasing 14.7% to 拢918.7m from 拢801m in the same period last year.
The company said there were increasing opportunities across public and private sector markets demonstrated by its growing sales pipeline.
It鈥檚 major new contracts include facilities and energy management for Vodafone鈥檚 entire property portfolio in the UK and Ireland, and work for Rolls-Royce, Manchester Airport and the Royal Opera House.
The firm said its is focusing investment in public sector bidding on justice, health, education and local government.
It said it had a strong balance sheet with net debt of 拢110.6m and commitment of 拢100m of US private debt. It has 拢230m of existing committed banking facilities.
Ruby McGregor-Smith, Mitie chief executive said: 鈥淥ur well diversified portfolio of public and private sector work and high quality client base has demonstrated strength and resilience against a backdrop of economic uncertainty and political change.
鈥淥verall, market conditions in the medium term remain positive for outsourcing.鈥�
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