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Pin to quick picksMitie Share News (MTO)

Share Price Information for Mitie (MTO)

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Share Price: 119.40
Bid: 119.80
Ask: 120.20
Change: -0.60 (-0.50%)
Spread: 0.40 (0.334%)
Open: 120.80
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Low: 119.20
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UPDATE 3-Serco, Mitie win contract extensions for UK COVID-19 test centres

Mon, 28th Jun 2021 07:45

* Serco contract could be worth up to 322 mln stg

* Mitie deal worth up to 365 mln stg

* Contracts run for 12 months with option to extend for 6
more
(Adds Mitie deal, background, detail)

By Yadarisa Shabong

June 28 (Reuters) - Serco and Mitie have won
new testing contracts collectively worth up to 687 million
pounds ($956.1 million) to continue supporting Britain's
much-criticised COVID-19 test-and-trace programme, the groups
said separately on Monday.

The scheme, which Prime Minister Boris Johnson pledged would
be world-beating when he launched it with a 22 billion pound
budget in May 2020, has repeatedly missed targets, with the
opposition Labour Party criticising the government's use of
private firms.

Serco's contract, which is worth up to 322 million pounds,
covers services such as site operations, cleaning and security
at around 20% of test sites in England and Northern Ireland,
down from the roughly 25% of sites covered by its previous deal.

Mitie's deal, worth up to 365 million pounds, covers the
management of around 28% of testing sites across England,
Scotland and Wales, up from about 23% of sites in its former
contract.

The two agreements are focussed on testing only but form
part of the test-and-trace scheme, which oversees testing of
people who think they have COVID-19, and then tracing contacts
of those who test positive to require them to isolate.

While Serco also holds contracts for contact tracing, Mitie
only looks after testing sites.

Parliament's spending watchdog said on Friday the scheme had
improved but was still missing targets, and the results of
millions of tests to find asymptomatic cases had not been
reported.

Britain has the highest COVID-19 death toll in Europe and is
seeing a surge in cases driven by the new Delta variant of the
virus, although an advanced vaccination campaign has kept
hospitalisations and deaths far below previous infection waves.

Serco earlier this month raised its 2021 profit forecast in
part thanks to its work on COVID-19 services. It did not change
its forecast on Monday following the contract win.

"We expect that the margin is slightly below group average,
but in line with expectations," Liberum analysts said on Serco.

Shares in Serco were up 0.7%, while Mitie was down 2.5%.

($1 = 0.7185 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Louise
Heavens, Mark Potter and Jan Harvey)

More News
30 Mar 2022 07:40

UK regulators raid Mitie London offices - report

(Sharecast News) - UK competition investigators have raided the offices of outsourcer Mitie and are examining the emails of senior staff, after the Home Office raised concerns about suspected anti-competitive behaviour, according to media reports on Wednesday.

Read more
7 Mar 2022 21:43

IN BRIEF: Mitie Chief Executive Bentley purchases shares

Mitie Group PLC - Glasgow-based facilities management and professional services - Chief Executive Officer Phil Bentley purchases 210,748 shares at a price of 47.41 pence on Monday, totalling GBP99,916.

Read more
4 Mar 2022 17:23

Rocked by Ukraine, British stocks have worst week since pandemic began

March 4 (Reuters) - Britain's blue-chip and mid-cap stock indexes recorded their worst week since March 2020 on Friday as concerns over the impact of Russia's invasion of Ukraine deepened.

Read more
4 Mar 2022 09:07

LONDON MARKET OPEN: Europe slides into red, with focus on US jobs

(Alliance News) - European stocks were on the back foot on Friday morning, with London outperforming its mainland peers, with fears of the war in Ukraine escalating sending investors in search of safe havens.

Read more
4 Mar 2022 08:35

UK competition watchdog probes Mitie over immigration centre contracts

(Alliance News) - The UK competition regulator has launched an investigation into whether outsourcing firm Mitie Group PLC has broken competition law in relation to a procurement process for immigration removal centre contracts run by the Home Office.

Read more
4 Mar 2022 08:00

LONDON MARKET PRE-OPEN: Hammerson loss narrows; Mitie sees scrutiny

(Alliance News) - Stock prices are seen opening lower on Friday after scares of a nuclear disaster in Ukraine following direct shelling of a nuclear power plant, while a business group has downgraded its expectations for UK economic growth this year.

Read more
27 Jan 2022 16:58

LONDON MARKET CLOSE: FTSE 100 jumps as stocks shake off hawkish Fed

LONDON MARKET CLOSE: FTSE 100 jumps as stocks shake off hawkish Fed

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27 Jan 2022 12:26

LONDON MARKET MIDDAY: Banks lead FTSE 100 as US Fed set for rate hikes

LONDON MARKET MIDDAY: Banks lead FTSE 100 as US Fed set for rate hikes

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27 Jan 2022 10:51

Mitie lifts annual profit guidance on strong third-quarter performance

Mitie lifts annual profit guidance on strong third-quarter performance

Read more
27 Jan 2022 09:52

UPDATE 2-FTSE 100 in high spirits on Diageo results; Dr. Martens weighs on midcaps

* Banks boost bluechips* Dr. Martens drops to record low following weak results* Mitie Group rises on strong profit outlook* FTSE 100 up 1.1%, FTSE 250 down 0.1% (Updates to market close)By Shashank Nayar and Ambar WarrickJan 27 (Reuters) - London's...

Read more
27 Jan 2022 07:57

Mitie lifts full-year profit guidance

(Sharecast News) - Outsourcer Mitie lifted its annual profit guidance again on Thursday as it highlighted higher-than-expected revenue from Covid-related contracts in the third quarter.

Read more
27 Jan 2022 07:49

UPDATE 1-UK's Mitie hikes profit outlook as COVID contracts rise amid Omicron wave

(Adds detail, background)Jan 27 (Reuters) - Mitie Group on Thursday raised its annual profit outlook for the second time in four months, as the outsourcer that helps manage some of Britain's COVID-19 testing sites gains from a higher number of pan...

Read more
27 Jan 2022 07:25

UK's Mitie hikes profit outlook as COVID contracts rise amid Omicron wave

Jan 27 (Reuters) - Mitie Group on Thursday raised its annual profit outlook for the second time in four months, as the British outsourcer benefits from a higher number of COVID-19 contracts during the Omicron wave.The company, which reported a 51%...

Read more
26 Jan 2022 16:13

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

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20 Jan 2022 16:06

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

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