UPDATE 2-UK's Mitie boosted by public sector contract wins

Mon Mar 30, 2009 2:59am EDT

* Won numerous public sector contracts in Q4

* Interior-fit-out and new-build housing slowing

* FY results seen in line with expectations

* Looking at value-creating acquisitions

(Adds details)

By Rhys Jones

LONDON, March 30 (Reuters) - British maintenance specialist Mitie Group Plc continued to win work from companies looking to cut costs through outsourcing in its fourth-quarter, it said on Monday, adding full-year earnings would meet its expectations.

The group (MTO.L), which cleans the Tower of London and supplies attendants to the Tate Britain art gallery, said it had won public sector contracts spanning the transport, utilities and healthcare industries during the final quarter of the year.

Bristol-based Mitie said it had also won a range of facilities management and multi-service contracts over the past three months but it had seen slowing growth in the construction sector.

"Interior fit-out and new-build housing, to which we have limited exposure, have slowed, but group earnings for the year ending March 30 2009 continue in line with management expectations," the company said in a statement.

The consensus forecast on Reuters Estimates shows analysts on average expect the company to deliver a pretax profit of 78 million pounds ($111.7 million) for the year.

Mitie, which has a committed funding line of 230 million pounds available until 2012, said it is well positioned to take advantage of value-creating acquisitions and other opportunities as they arise.

Shares in the Mitie, which have shed over a quarter of their value in the past year, closed at 175-1/4 pence on Friday, valuing the group at around 570 million pounds. (Editing by David Holmes) ($1=.6984 Pound)

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