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Mitie is confident of future opportunities

OUTSOURCER Mitie has reported a 4.3 per cent rise in full-year profit and said it is confident of further profitable growth.

Mitie, which counts Lloyds Banking Group and the Scottish Government among its customers, expects opportunities in the outsourcing market to grow, particularly in Britain as the economy picks up.

Headline turnover was up 8.2 per cent to £2.14 billion with pre-tax profits coming in at £113.3m.

Chief executive Ruby McGregor-Smith said: "The outlook in the next five years in the UK particularly (is) becoming increasingly positive.

"We can see in the long-term even more public sector opportunities." Mitie said its order book for the year ahead stood at £8.7 billion and that it had already secured 84 per cent of revenue for the coming year.

Cantor Fitzgerald analyst Caroline de La Soujeole said Mitie is operating in attractive markets.

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