Mitie Group (MTO)

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Support

Index:

FTSE 250

152.00p
   
  • Change Today:
      0.80p
  • 52 Week High: 152.60p
  • 52 Week Low: 106.00p
  • Currency: UK Pounds
  • Shares Issued: 1,255.69m
  • Volume: 62,501
  • Market Cap: £1,908.66m
  • RiskGrade: 216

Mitie sales growth picks up in second quarter

By Benjamin Chiou

Date: Tuesday 15 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Mitie, the FTSE 250-listed facilities management and professional services company, reported an acceleration in top-line growth in the second quarter, helped by new contract wins and increased work in the 'surge response' security market.
Revenes totalled £2.4bn in the six months to 30 September, up 13% on last year and 7% higher on an organic basis due to new contract wins and scope increases, pricing and projects, Mitie said on Tuesday.

Revenue growth picked up to 16% in the second quarter, from 10.5% in the first, helped by higher volumes for the Immigration Escorting Services contract, as well as the provision of 'surge response' security services for the Home Office during the summer.

The company ended the half with record contract wins and extensions/renewals, rising 45% year-on-year to £3.5bn in total contract value, despite not renewing two public sector contracts ending next year.

"Overall, we have made good progress against our strategic objectives, with revenue growth of c.13% in H1; at least £20m of full year cost savings identified from margin enhancement initiatives; and the completion of two acquisitions," said chief executive Phil Bentley.

"We therefore remain confident in meeting expectations for the current year and delivering our Three-Year Plan targets."

Mitie's shares were down 0.7% at 120.4p by 0902 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mitie Group Market Data

Currency UK Pounds
Share Price 152.00p
Change Today 0.80p
% Change 0.53 %
52 Week High 152.60p
52 Week Low 106.00p
Volume 62,501
Shares Issued 1,255.69m
Market Cap £1,908.66m
RiskGrade 216

Mitie Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.53% below the market average63.53% below the market average63.53% below the market average63.53% below the market average63.53% below the market average
71.11% below the sector average71.11% below the sector average71.11% below the sector average71.11% below the sector average71.11% below the sector average
Price Trend
89.52% above the market average89.52% above the market average89.52% above the market average89.52% above the market average89.52% above the market average
93.81% above the sector average93.81% above the sector average93.81% above the sector average93.81% above the sector average93.81% above the sector average
Income
3.93% above the market average3.93% above the market average3.93% above the market average3.93% above the market average3.93% above the market average
18.64% below the sector average18.64% below the sector average18.64% below the sector average18.64% below the sector average18.64% below the sector average
Growth
89.36% above the market average89.36% above the market average89.36% above the market average89.36% above the market average89.36% above the market average
91.30% above the sector average91.30% above the sector average91.30% above the sector average91.30% above the sector average91.30% above the sector average

What The Brokers Say

Strong Buy 6
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 8
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mitie Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Dec-24 20-Jun-24
Paid 04-Feb-25 05-Aug-24
Amount 1.30p 3.00p

Trades for 09-May-2025

Time Volume / Share Price
08:21 5 @ 152.20p
08:20 6,529 @ 152.31p
08:19 73 @ 152.40p
08:19 1 @ 152.40p
08:19 1 @ 152.40p

Mitie Group Key Personnel

CEO Phillip Bentley

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