Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMitie Regulatory News (MTO)

Share Price Information for Mitie (MTO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 117.40
Bid: 117.20
Ask: 117.60
Change: 0.00 (0.00%)
Spread: 0.40 (0.341%)
Open: 117.20
High: 117.60
Low: 115.80
Prev. Close: 117.40
MTO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading update

18 Jan 2017 07:00

RNS Number : 4397U
MITIE Group PLC
18 January 2017
 

18 January 2017

Mitie Group plc

 

Trading update

 

 

Mitie Group plc ("Mitie"), the facilities management and consultancy business, today issues the following trading update.

 

The Board has met for the past two days to review strategy and to consider the Group's trading outlook for the year as a whole. Property Management and Technical FM divisions have been impacted by client deferrals and investment plan delays, respectively, which are now expected to be fulfilled in 2Q 2017. Separately, it is clear that our Cleaning division is underperforming; management changes are being implemented.

 

In addition, the Board is undertaking a balance sheet review, and has taken a more conservative judgement on contractual positions, identifying an additional £14m of one-off charges in the year.

 

As a consequence of the above, we now expect underlying operating profit for the full year to 31 March 2017 to be in the range of £60m to £70m (including ongoing healthcare losses, but before the previously disclosed £10m one-off costs of change).

 

Despite these lower forecast earnings, we expect to continue operating within our contractual banking covenants.

 

The balance sheet review will also consider the potential impact of IFRS 15. Full year results for the twelve months ending 31 March 2017 and an update on our strategy will be announced on 24 May 2017.

 

 

 

-Ends- 

This announcement includes inside information.

 

 

Call with management:

Mitie will be hosting a conference call at 0800 on Wednesday 18 January for analysts and investors. Dial-in details are as follows:

 

Dial in number(s)

UK Toll Number: 02031394830UK Toll-Free Number: 08082370030

URL for international dial in numbers

http://events.arkadin.com/ev/docs/NE_FEL_Events_International_Access_List.pdf

Participant PIN code

47816713#

 

 

 

For further information, contact:

John Telling

Group Corporate Affairs Director, Mitie Group plc

T: +44 (0) 203 123 8673 M: +44 (0) 7979 701 006 E: john.telling@mitie.com

 

Lauren Hepburn

IR & PR manager, Mitie Group plc

T: +44 (0) 203 123 8720 M: +44 (0) 7469 405 E: lauren.hepburn@mitie.com 

 

 

Notes for editors

 

What is Mitie?

Mitie is a FTSE 250 business providing facilities management, consultancy, project management and a range of specialist services that connect people with innovation and technology; helping our clients create better places to live and work.

We work in partnership with organisations to deliver long-term value, offering a wide range of services - from real estate and energy consultancy, compliance, risk assessment and security systems to cleaning, catering and environmental services. We manage and maintain some of the nation's most recognised landmarks for a range of blue-chip public and private sector customers. 

We're all about developing our people to excel every day, challenge the status quo, and inspire change.

Find out more at www.mitie.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEAKFPFAEXEEF
Date   Source Headline
14th Jun 20244:45 pmRNSDirector/PDMR Shareholding
14th Jun 20247:00 amRNSTransaction in Own Shares
13th Jun 20247:00 amRNSTransaction in Own Shares
12th Jun 20247:00 amRNSTransaction in Own Shares
11th Jun 20244:30 pmRNSDirector/PDMR Shareholding
11th Jun 20247:00 amRNSTransaction in Own Shares
10th Jun 20247:00 amRNSTransaction in Own Shares
7th Jun 20247:00 amRNSTransaction in Own Shares
6th Jun 20247:00 amRNSFull year results for the year ended 31 March 2024
6th Jun 20247:00 amRNSTransaction in Own Shares
5th Jun 20247:00 amRNSTransaction in Own Shares
4th Jun 20244:30 pmRNSBlock Listing Six Monthly Return
4th Jun 20247:00 amRNSTransaction in Own Shares
3rd Jun 20246:00 pmRNSTotal Voting Rights
3rd Jun 20247:00 amRNSTransaction in Own Shares
31st May 20247:00 amRNSTransaction in Own Shares
30th May 20247:00 amRNSTransaction in Own Shares
29th May 20247:00 amRNSTransaction in Own Shares
28th May 20247:00 amRNSTransaction in Own Shares
24th May 20247:00 amRNSTransaction in Own Shares
23rd May 20247:00 amRNSTransaction in Own Shares
22nd May 20247:00 amRNSTransaction in Own Shares
21st May 20247:00 amRNSTransaction in Own Shares
20th May 20247:00 amRNSTransaction in Own Shares
17th May 20247:00 amRNSTransaction in Own Shares
16th May 20247:00 amRNSTransaction in Own Shares
15th May 20247:00 amRNSTransaction in Own Shares
14th May 20244:30 pmRNSDirector/PDMR Shareholding
14th May 20247:00 amRNSTransaction in Own Shares
13th May 20247:00 amRNSTransaction in Own Shares
10th May 20247:00 amRNSTransaction in Own Shares
9th May 20247:00 amRNSTransaction in Own Shares
8th May 20247:00 amRNSTransaction in Own Shares
7th May 20247:00 amRNSTransaction in Own Shares
3rd May 20247:00 amRNSTransaction in Own Shares
2nd May 20244:30 pmRNSHolding(s) in Company
2nd May 20247:00 amRNSTransaction in Own Shares
1st May 20244:30 pmRNSDirector/PDMR Shareholding
1st May 20244:30 pmRNSTotal Voting Rights
1st May 20247:00 amRNSTransaction in Own Shares
30th Apr 20247:00 amRNSTransaction in Own Shares
29th Apr 20244:30 pmRNSHolding(s) in Company
29th Apr 20247:00 amRNSTransaction in Own Shares
26th Apr 20244:30 pmRNSHolding(s) in Company
26th Apr 20247:00 amRNSTransaction in Own Shares
25th Apr 20244:30 pmRNSHolding(s) in Company
25th Apr 20247:00 amRNSTransaction in Own Shares
24th Apr 20247:00 amRNSResults of Secondary Placing in Mitie Group plc
24th Apr 20247:00 amRNSTransaction in Own Shares
23rd Apr 20245:07 pmRNSProposed Secondary Placing in Mitie Group plc

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.