Interim Management Statement
MITIE Group PLC
26 July 2007
26 July 2007
MITIE Group PLC - Interim Management Statement
MITIE Group PLC, one of the UK's leading support services companies, delivering
facilities, engineering and property services holds its Annual General Meeting
today at 12.00 noon and is publishing its first Interim Management Statement.
The statement relates to the year to date period from 1 April 2007 to 25 July
2007.
Trading Update
MITIE is pleased to confirm that it is continuing to perform in line with
management expectations and that market conditions remain favourable.
The strong organic growth of MITIE, supported by successful acquisitions, has
created a Group with a nationwide presence in almost all of its services. The
Group's market position is opening up new opportunities, with the size of
contracts that MITIE is able to tender for increasing year on year. Such
opportunities were not previously available to the Group.
The Group's order book remains strong at £4.1bn and 81% of the Group's budgeted
revenue for the year ending 31 March 2008 is now secured.
Recent Developments
On 2 April 2007, MITIE acquired the plumbing and heating company Robert Prettie
& Co Limited (Robert Prettie) for an initial consideration of £8.6 million and a
potential deferred consideration based on performance over three years up to a
maximum of £23.3 million, giving a maximum total consideration of £32.7 million.
This acquisition has added significantly to MITIE Property Services'
capabilities in the housing sector and has complemented its existing regional
operations. Robert Prettie works in partnership with Local Authorities,
Councils, Developers and Registered Social Landlords on kitchen and bathroom
installation, heating replacement, gas servicing, maintenance and call out
services.
Future Reporting Dates
MITIE will be announcing its interim results for the half year ending 30
September 2007 on 26 November 2007.
Notes to editors
For further information, please contact:
David Revis, Investor Relations and PR Manager
T: 020 7034 7306 M: 07979 702465
John Telling, Head of Corporate Affairs
T: 020 7034 7304 M: 07979 701006
MITIE is one of the UK's leading support services companies, delivering
facilities, engineering and property services to more than 6,000 public and
private sector clients. It is also one of the UK's largest employers with over
44,000 people supporting customers every day.
MITIE provides all of the facilities services that organisations may wish to
outsource including Catering, Cleaning, Document Management, Front of House
Services, Energy Services, Engineering Maintenance, Facilities Management,
Landscaping, Grounds Maintenance, Pest Control, Security and Waste and
Environmental Services. MITIE also offers engineering and property services,
improving buildings for its customers by providing Building Refurbishment,
Fit-Out and Maintenance Services, together with Mechanical and Electrical
Engineering.
MITIE's unique share ownership ethos 'Management Incentive Through Investment
Equity' (MITIE) encourages its employees to focus on what its customers want.
MITIE's success in delivering sustainable growth, through responsible and
proactive engagement with stakeholders, has enabled the Group to become a FTSE
250 company, achieving annual revenues of over £1.2bn.
For further information, please visit the Group's website www.mitie.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
ISWSEIW
Latest directors dealings
- 8 hours ago Oxford Nanopore Technologies
- 8 hours ago AVI Global Trust
- 9 hours ago LSL Property Services
- 9 hours ago Bluebird Merchant Ventures (DI)
- 9 hours ago Power Probe PLC