Mitie: Shard-based outsourcing giant toasts to double-digit growth Business Outsourcing giant Mitie has reported double-digit growth after a record number of contract deals and extensions in the first half of the year. The FTSE-250 firm said that revenue increased by 13 per cent, to £2.4bn, in the half-year ended 30 September, up from £2.1bn last year. This was driven by a 45 per cent [...]
Mitie doubles first quarter revenue on back of Interserve acquisition Mitie doubles first quarter revenue on back of Interserve acquisition Outsourcer Mitie today said that it had doubled its first quarter revenue as the firm’s acquisition of rival Interserve’s facilities management business paid instant dividends. The FTSE 250 firm said that revenue rose to £930m in the first quarter, up 104 per cent on the £455m that it booked in the same period last year. [...]
Sodexo nets enlarged Test and Trace contract worth £400m Sodexo nets enlarged Test and Trace contract worth £400m Sodexo has become the latest service provider to have its contract to run test and trace facilities for the NHS extended. The outsourcer announced overnight that selected to operate a further 121 fixed and mobile Covid-19 testing centres, which makes it the biggest provider of such services in the country. It added that the new [...]
Mitie renews £365m deal to run Covid-19 testing facilities June 28, 2021 Outsourcer Mitie has today had its contract to run NHS coronavirus testing facilities extended by a year, in a deal that could be worth £1m a day. It will continue to provide cleaning, waste management and security services at 175 testing sites and 105 mobile testing units across England, Wales, and Scotland. The deal can [...]
Outsourcer Mitie snaps up £650m defence contract June 14, 2021 Outsourcer Mitie has today won a £646m contract to deliver building and maintenance services for the Ministry of Defence’s (MoD) sites across Scotland and Northern Ireland. The seven-year contract covers 4,400 buildings over 91 sites, including both historic buildings such as Edinburgh Castle and active military bases. The MoD will have the option of extending [...]
In-demand G4S hails ‘strong’ last quarter as takeover deadlines loom February 9, 2021 Security firm G4S this morning hailed a “strong” fourth quarter as the bidding war for the outsourcer approached its conclusion. The FTSE 250 firm said that it had achieved an “exceptional commercial performance” in the final period, with new and retained contracts worth £5.5bn. In a trading update, G4S said its cash flow benefited from Covid-19 payroll [...]
Ferrovial in new attempt to offload Amey February 2, 2021 Spanish infrastructure firm Ferrovial has getting ready for a second attempt at a sale of outsourcing firm Amey. Sky News reported that the firm had appointed Morgan Stanley to run the sale, which comes two years after a prior attempt to sell the services group. The company is one of the UK’s biggest outsourcing firms, [...]
Mitie raises full year guidance as Interserve deal beds in January 28, 2021 Outsourcer Mitie today raised its guidance for the full year due to an improved performance in the second half and its merger with Interserve. The FTSE 250 company said that full year revenue would now come in at £2.4-£2.5bn, with profit up to £57m-£61m. Shares in the firm rose 3.1 per cent as markets opened [...]
Government launches legal action against former Carillion directors January 14, 2021 Ministers have launched legal action against eight former directors of collapsed outsourcing giant Carillion, a move that could see them banned from serving as directors for up to 15 years. Nearly three years after the firm went bust, business secretary Kwasi Kwarteng has brought proceedings against the former chairman, two chief executives, two finance chiefs, [...]
Mitie profit slips a third ahead of Interserve merger November 19, 2020 Outsourcer Mitie said that profit had fallen over a third in the first half of the year due to a loss of revenue from high margin contracts impacted by coronavirus. Profit at the London-listed firm slipped 35 per cent from £33m to £21.5m, with revenue also declining 9.8 per cent to £972m. As a result, [...]