News on 12 December 2000
Support and building services company MITIE
Group has announced an increase in profits in its interim results
for the six months ended 30 September 2000.
The company’s pre-tax profit went up by almost 30% to £10.9m
and its turnover increased by around 23% to £199.3m. The interim
dividend grew to 1.1p per share from 0.9p. The Group’s engineering
services lead the division in profitability and were particular strong
in the refurbishment sector.
MITIE Managed Services secured a five year contract worth £9m a
year with Sainsbury's which has now started, and a three year Facilities
Management agreement with Alliance & Leicester. The new companies
under the Managed Services' umbrella are MITIE Business Services Ltd which
commenced in January and has won a number of three year contracts to supply
office services, each worth over £1m a year, and MITIE PFI Ltd,
which was launched this year to allow the company to enter the Private
Finance Initiative market more focused.
Chairman David Telling said: "The Group has performed encouragingly
in the first half. I am confident that we will be able to report a satisfactory
result at the year end."
