Edition:
United States

Mitie Group PLC (MTO.L)

MTO.L on London Stock Exchange

122.10GBp
22 Jan 2019
Change (% chg)

-0.30 (-0.25%)
Prev Close
122.40
Open
119.50
Day's High
123.10
Day's Low
119.50
Volume
350,363
Avg. Vol
653,901
52-wk High
211.02
52-wk Low
105.80

Latest Key Developments (Source: Significant Developments)

Mitie Gets 5-Yr Extension To Contract With London Gatwick Airport
Wednesday, 16 Jan 2019 06:16am EST 

Jan 16 (Reuters) - Mitie Group PLC ::EXPANDED ITS RELATIONSHIP WITH LONDON GATWICK BY WINNING A FIVE-YEAR EXTENSION TO ITS CONTRACT WORTH £17M.CO WILL NOW MAINTAIN RELATIONSHIP WITH LONDON GATWICK AIRPORT UNTIL AT LEAST LATE 2023.CONTRACT, TO PROVIDE CRITICAL SUPPORT SERVICES, INCLUDING ELECTRICAL ENGINEERING, WILL COVER NORTH AND SOUTH TERMINALS AND BUILDINGS.  Full Article

Mitie Group HY Adj Oper Profit From Cont Ops Down £1.7M TO £38.4M
Thursday, 22 Nov 2018 02:02am EST 

Nov 22 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - HALF-YEAR REPORT.MITIE GROUP PLC - HY REVENUE FROM CONTINUING OPERATIONS UP 4.0% TO £1,040.9M .MITIE GROUP PLC - HY OPERATING PROFIT FROM CONTINUING OPERATIONS UP 1.1% TO £26.5M .MITIE GROUP PLC - HY OPERATING PROFIT FROM CONTINUING OPERATIONS BEFORE OTHER ITEMS DOWN £1.7M TO £38.4M.MITIE GROUP PLC - PROJECT HELIX COST SAVINGS AND COST OF CHANGE PROGRESSING AS PLANNED.MITIE GROUP PLC - MANAGEMENT'S EXPECTATIONS FOR FULL-YEAR PERFORMANCE, ADJUSTED FOR RECENT TRANSACTIONS, IN LINE WITH GUIDANCE.MITIE GROUP PLC - SECURED ORDER BOOK DECLINED BY £255M TO £3.9BN BUT SIGNIFICANT INCREASE IN PIPELINE.MITIE GROUP PLC - INTERIM DIVIDEND MAINTAINED AT 1.33P, IN LINE WITH POLICY.MITIE - WORKING WITH KEY SUPPLIERS TO ENSURE CONTINUED AVAILABILITY OF SUPPLY SHOULD ANY IMPORT DISRUPTIONS IMPACT FINISHED PRODUCTS OR RAW MATERIALS.MITIE GROUP PLC - FOR A SMALL NUMBER OF CRITICAL ITEMS GROUP IS ASSESSING NEED FOR INCREASED SHORT-TERM STOCKHOLDING.MITIE GROUP PLC - ASSESSING NEED FOR INCREASED SHORT-TERM STOCKHOLDING FOR SOME ITEMS, IMPACT NOT EXPECTED TO BE MATERIAL TO GROUP'S REPORTED RESULTS.MITIE GROUP PLC - PUTTING MEASURES IN PLACE TO ATTRACT TALENT FROM ALTERNATIVE LABOUR POOLS.MITIE GROUP PLC - IMPROVED ITS RECRUITMENT TOOLS AND PROCESSES TO PROVIDE ACCESS TO A BROADER NUMBER OF RECRUITERS AND THEREFORE A WIDER LABOUR POOL.MITIE GROUP PLC - ALSO INCREASING ITS INVESTMENT IN APPRENTICESHIPS.  Full Article

Mears Group Buys Assets From Mitie's Property Management Division
Monday, 19 Nov 2018 02:01am EST 

Nov 19 (Reuters) - Mears Group PLC ::PROPOSED PLACING AND ACQUISITION.ACQUISITION OF MAINTENANCE SERVICES BUSINESS FROM MITIE; PROPOSED PLACING TO RAISE APPROXIMATELY £22.5 MILLION.PROCEEDS OF PLACING WILL BE USED TO FUND INITIAL CASH CONSIDERATION FOR DEAL WITH MITIE.MITIE HOUSING EXPECTED TO INCREASE MEARS' CONTINUING ANNUAL REVENUE BY AT LEAST £100 MILLION AND GROUP ORDER BOOK BY CIRCA £200 MILLION.ACQUISITION IS EXPECTED TO BE EARNINGS ACCRETIVE IN 2019 AND MID TERM WITH SCOPE TO OUTPERFORM.PROPOSED PLACING OF 6.8 MILLION NEW ORDINARY SHARES OF 1 PENNY EACH IN CO AT A PRICE OF 331.5P/PLACING SHARE.  Full Article

Mitie To Sell Social Housing Business To Mears For Up To 35 Mln Pounds
Monday, 19 Nov 2018 02:00am EST 

Nov 19 (Reuters) - Mitie Group PLC ::SALE OF MITIE'S SOCIAL HOUSING BUSINESS.DEAL FOR A CONSIDERATION OF UP TO £35 MILLION.CONSIDERATION COMPRISES AN INITIAL PAYMENT OF £22.5 MILLION, PAYABLE IN CASH AT COMPLETION.DEAL WILL BE STRUCTURED AS A SALE OF ENTIRE ISSUED SHARE CAPITALS OF MITIE PROPERTY MANAGEMENT LIMITED & MPS HOUSING LIMITED.TO SELL ITS SOCIAL HOUSING BUSINESS TO MEARS GROUP PLC.  Full Article

Mitie To Buy Vision Security Group For 14 Mln Stg
Monday, 8 Oct 2018 02:00am EDT 

Oct 8 (Reuters) - Mitie Group PLC ::MITIE TO ACQUIRE VISION SECURITY GROUP.PROPOSED DEAL FOR CONSIDERATION OF £14 MILLION (ON A DEBT FREE, CASH FREE BASIS).DEAL WILL BE FUNDED THROUGH MITIE'S OWN CASH RESOURCES.EXPECTED THAT VSG WILL REPORT MODEST PROFITABILITY FOR FINANCIAL YEAR ENDING 30 SEPTEMBER 2018.  Full Article

Mitie Awarded EXTENSION TO CONTRACT WITH VODAFONE UK
Wednesday, 3 Oct 2018 04:36am EDT 

Oct 3 (Reuters) - Mitie Group PLC ::MITIE AWARDED CONTRACT WITH VODAFONE.AWARDED A TWO-YEAR EXTENSION TO ITS EXISTING FACILITIES MANAGEMENT CONTRACT WITH VODAFONE UK.EXTENSION, WHICH BEGINS ON 1 APRIL 2020, FOLLOWS AN INITIAL SIX-YEAR CONTRACT.  Full Article

Mitie Sees H1 Oper. Profit Flat To Slightly Down; FY Forecast Unchanged
Wednesday, 26 Sep 2018 02:00am EDT 

Sept 26 (Reuters) - Mitie Group PLC ::REVENUE GROWTH IN 1H 18/19 EXPECTED TO BE UP 2-3%.OPERATING PROFIT IN H1 EXPECTED TO BE IN LINE WITH MANAGEMENT'S EXPECTATIONS, FLAT TO SLIGHTLY DOWN ON PRIOR YEAR.PROJECT HELIX PROGRESSING TO PLAN AND EXPECTED TO DELIVER C.£40M OF CUMULATIVE IN-YEAR COST SAVINGS AT PREVIOUSLY GUIDED IN-YEAR COST OF £15M.MANAGEMENT'S FULL-YEAR 18/19 EXPECTATIONS AND COMMITMENT TO "CONNECTED WORKSPACE" REMAIN UNCHANGED..MAINTAINING FY GUIDANCE AS PROJECT WORK VOLUME IS INCREASING, IN-YEAR SALES WINS GROWING, LFL REVENUE GROWTH HAS STRENGTHENED IN Q2.ORDER BOOK FELL SLIGHTLY SINCE FY-END, WITH DELIVERY OF LONG-TERM CONTRACTS BEING COUNTERBALANCED BY CONTRACT WINS, RETENTIONS.EXPECT TO DELIVER MODEST TOP-LINE GROWTH THIS YEAR.REMAIN COMMITTED TO OUR MEDIUM-TERM TARGET OF IMPROVING OPERATING PROFIT MARGINS TO 4.5%-5.5%..EXPECT AVERAGE DAILY NET DEBT AT H1 END TO BE C.£40M HIGHER THAN LAST YEAR'S 1H LEVEL OF £278M.CLOSING NET DEBT AT SEPT 30 EXPECTED TO BE IN RANGE OF £230M TO £250M REFLECTING NORMAL SEASONAL INCREASE FROM MARCH TO SEPTEMBER.  Full Article

Mitie Wins Ahlsell Contract In Norway
Wednesday, 4 Jul 2018 04:37am EDT 

July 4 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - MITIE WINS AHLSELL CONTRACT IN NORWAY.MITIE GROUP PLC - FIVE-YEAR PROJECT COVERS 47 SITES ACROSS NORWAY.  Full Article

Mitie Says FCA Ends Investigation Into Co's 2016 Profit Warning
Wednesday, 27 Jun 2018 02:00am EDT 

June 27 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - ON 26 JUNE 2018, FCA ADVISED COMPANY THAT IT WAS DISCONTINUING ITS INVESTIGATION INTO COMPANY.  Full Article

Mitie Awarded A 10-Year Contract With Home Office Worth An Estimated 525 Mln STG
Thursday, 14 Dec 2017 03:57am EST 

Dec 14 (Reuters) - Mitie Group Plc ::MITIE'S CARE & CUSTODY BUSINESS AWARDED A 10-YEAR CONTRACT WITH HOME OFFICE WORTH AN ESTIMATED £525MILLION, THROUGH A COMPETITIVE TENDER PROCESS.  Full Article

British outsourcer Mitie extends contract with London's Gatwick

Jan 16 British outsourcer Mitie Group Plc said on Wednesday it had got a five-year extension to its 17 million pound ($21.9 million) contract with Britain's second-busiest airport Gatwick.