Mitie sells food unit to the Queen’s caterers August 19, 2019 Outsourcer Mitie will sell its catering and hospitality business for up to £85m to the Queen’s caterers, CH&CO it said today. The decision comes as the company tries to turn around in an environment where outsourcers are finding it increasingly difficult to operate. After a review of the business, Mitie decided that its catering wing [...]
Mitie ‘would be foolish’ not to consider buying Interserve’s support services arm, says chief Phil Bentley March 28, 2019 The boss of outsourcer Mitie has confirmed the company has expressed an interest in buying Interserve’s support services business. Speaking to City A.M., chief executive Phil Bentley said reports that the company was looking to cash in on Interserve’s collapse into administration were a result of Mitie “registering an interest”. Read more: Mitie's order book shrinks as [...]
Mitie’s order book shrinks as outsourcing sector battles ‘undoubted challenges’ March 28, 2019 Mitie’s shares slid this morning as it announced its order book had thinned by around one-tenth in the last year amid tricky conditions for outsourcers. Chief executive Phil Bentley said the decline was part of a shift towards “adding more value and services to our top clients,” as the firm continues to battle headwinds from several [...]
Rival outsourcers could buy out Interserve services business as Mitie makes inquiries March 17, 2019 Interserve’s uncertainty continued over the weekend as rivals expressed an interest in buying the most profitable part of its business. It is understood fellow outsourcer Mitie contacted Interserve’s administrator EY over the weekend, as well as a consortium of banks and hedge funds which now own the firm, about buying its support services arm. Read [...]
Carillion one year on: Government outsourcers are still struggling with growing debt piles January 15, 2019 On the anniversary of Carillion’s collapse, government outsourcers are still reporting ballooning debt levels as they try to balance the books. Kier Group, Interserve, Serco, Sodexo and Sopra Steria, who are all on the government’s list of strategic suppliers for 2019, have taken on hundreds of millions of pounds worth of debt in the last [...]
Outsourcer Mitie to step electric vehicle operation up a gear with 717 new cars and vans to enter fleet by 2020 December 4, 2018 Outsourcer Mitie’s shares rose this morning on the announcement it is to introduce electric vehicles into its fleet of cars and vans. The facilities management and professional services company said one-fifth of its 3,587 so-called smaller vehicles would be electric by the end of 2020, a total of 717 vehicles. Mitie said it would install [...]
The Mitie short: Hedge funds including Marshall Wace and Old Mutual bet on more share price falls at outsourcing group March 19, 2017 | Sponsored Hedge funds are anticipating further falls in the share price of troubled outsourcing firm Mitie. Marshall Wace, Old Mutual and Henderson Global Investors are among the investors to have disclosed short positions on the company. Read more: Mitie flogs its healthcare business for just £2 Markit data, reported on by the Sunday Times, shows the [...]
Mitie share price rises despite homecare and house building struggles May 18, 2015 The figures Shares in FTSE 250-listed waste management outsourcer Mitie opened over three per cent higher at 297p this morning after it heralded a year of "significant progress" with rises in revenue, profit and earnings. In its results for the year ending 31 March, Mitie reported a 5.8 per cent rise in revenue to £2.3bn [...]
Mitie forecasts good full-year revenue growth after securing £250m Vodafone deal August 11, 2014 Outsourcing firm Mitie yesterday said it expects good full-year revenue growth, after securing a string of high-profile contracts including a £250m deal with telecoms giant Vodafone. The FTSE 250-quoted company had already secured 90 per cent of budgeted revenues for this financial year by 30 June, with the start dates of a number of contracts [...]
Mitie profits up 4.3pc despite disposal costs May 19, 2014 MITIE shrugged off the woes of the wider outsourcing sector yesterday by unveiling in-line results for the year, which showed a 5.2 per cent rise in organic revenue growth and a 4.3 per cent rise in pre-tax profit. The FTSE 250-listed outsourcing firm, which holds contracts with a range of organisations including Network Rail, the [...]