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Michele Maatouk Sharecast News
08 Jun, 2023 08:18 08 Jun, 2023 08:18

Mitie hails record full-year revenues

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Mitie GroupCompany photo / Mitie

Mitie Group

95.20p

13:34 04/10/23
-2.46%
-2.40p

Mitie hailed record full-year revenue on Thursday as it posted a jump in operating profit, boosted by contract wins, renewals and acquisitions.

FTSE 250

17,633.00

13:35 04/10/23
n/a
n/a

FTSE 350

4,080.36

13:35 04/10/23
n/a
n/a

FTSE All-Share

4,037.87

13:35 04/10/23
n/a
n/a

Support Services

9,995.83

13:34 04/10/23
0.79%
78.78

In the 12 months to the end of March, revenue rose to a record £4.05bn from £4bn a year earlier, while operating profit grew to £117m from £72m.

Mitie said "wins, renewals, acquisitions and inflationary contract re-pricing more than offset contracts that were not renewed and the prior year benefit from short-term Covid work".

The company said FY24 has started positively.

"Since the start of the year, we have won and extended a number of significant new contracts and we have a healthy pipeline of new opportunities, combined with the full year benefit from major contracts won and extended in the final months of FY23," it said.

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