Mitie Group (MTO)

Sector:

Support

Index:

FTSE 250

119.40p
   
  • Change Today:
      2.20p
  • 52 Week High: 124.20
  • 52 Week Low: 91.90
  • Currency: UK Pounds
  • Shares Issued: 1,327.67m
  • Volume: 2,596,959
  • Market Cap: £1,585.24m
  • RiskGrade: 216

Mitie sees slight fall in operating profits as revenue grows

By Frank Prenesti

Date: Friday 16 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Outsourcing company Mitie said it expected full operating profits to be slightly below the previous year after modest growth in sales.
The company said revenue growth should be in the range of 2% - 2.5% at around £2.2bn.

Chief executive Phil Bentley said the company had seen "limited impact" on the company in the wake of the collapse of sector peer Carillion, although he added this had raised "some fundamental questions about the outsourcing industry".

Mitie said growth was driven by solid performances across all divisions with strong project work volumes in engineering services, increasing technology content in security and new business wins in care & custody.

Cleaning revenues had stabilised after recent declines, although this was partially offset by weak performances in property management and contracts losses in waste.

"We have seen limited impact on our operational business as a result of competitor or industry activity, and we remain fully focused on our transformation programme and the execution of our strategy," Bentley said.

"Potential Brexit impacts are expected to be minimal, though could be felt in wage inflation and we have budgeted for increasing remuneration costs in full year 2018/19."

Mitie said it expected average daily net debt to be £50m lower year-on-year as it continued to reduce its reliance on period-end invoice discounting.

"As a result of our more conservative approach and our commitment to normalising our balance sheet by reducing the company's reliance on non-committed facilities, we expect period end net debt to be £50m-£70m higher than last year," the company said.

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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 119.40p
Change Today 2.20p
% Change 1.88 %
52 Week High 124.20
52 Week Low 91.90
Volume 2,596,959
Shares Issued 1,327.67m
Market Cap £1,585.24m
RiskGrade 216

Mitie Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.78% below the market average48.78% below the market average48.78% below the market average48.78% below the market average48.78% below the market average
35.48% below the sector average35.48% below the sector average35.48% below the sector average35.48% below the sector average35.48% below the sector average
Price Trend
83.01% above the market average83.01% above the market average83.01% above the market average83.01% above the market average83.01% above the market average
70.00% above the sector average70.00% above the sector average70.00% above the sector average70.00% above the sector average70.00% above the sector average
Income
31.13% above the market average31.13% above the market average31.13% above the market average31.13% above the market average31.13% above the market average
30.16% above the sector average30.16% above the sector average30.16% above the sector average30.16% above the sector average30.16% above the sector average
Growth
81.53% above the market average81.53% above the market average81.53% above the market average81.53% above the market average81.53% above the market average
79.59% above the sector average79.59% above the sector average79.59% above the sector average79.59% above the sector average79.59% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
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
  Final Interim
Ex-Div 20-Jun-24 14-Dec-23
Paid 05-Aug-24 31-Jan-24
Amount 3.00p 1.00p

Trades for 24-Jun-2024

Time Volume / Share Price
12:38 200,000 @ 119.40p
12:36 3,500 @ 119.40p
12:36 266 @ 119.40p
12:36 1,678 @ 119.40p
12:36 1,587 @ 119.40p

Mitie Group Key Personnel

CEO Phillip Bentley

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