Mitie Group (MTO)

Sector:

Support

Index:

FTSE Small Cap

 33.30p
   
  • Change Today:
      0.000p
  • 52 Week High: 85.97
  • 52 Week Low: 30.13
  • Currency: UK Pounds
  • Shares Issued: 1,171.01m
  • Volume: 78,658
  • Market Cap: £389.95m
  • RiskGrade: 294

Mitie warns of political challenges as profit climbs

By Duncan Ferris

Date: Thursday 21 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Mitie on Thursday reported double-digit jumps in interim profit and revenue, though it warned that Brexit uncertainty could impact trading.
The outsourcer booked a profit before tax of £14.6m for the six months ended 30 September, down 22% compared to the same period last year, as revenue increased by 11% to £1.08bn.

The London-listed company proposed an interim dividend of 1.33p, unchanged from the year before.

Mitie said the double-digit turnover improvement was driven by Vision Security Group, which it acquired in October last year, while organic revenue edged 2% higher to £989.7m as it was held back by the impact of economic uncertainty on Mitie's variable works and projects business.

Looking ahead, the facility management firm maintained guidance of 4.5%-5.5% operating profit margin, adding that it expected mid-single digit growth for operating profit before other items.

However, the outsourcer also cautioned that political and economic uncertainty in the UK could adversely affect its customers' approach to outsourcing decisions, as well as Mitie's ability to plan and invest.

The company said: "There is no doubt that we continue to operate in a challenging industry of rising labour costs and margin pressures. In addition, there is short-term economic and political uncertainty across our markets. The way forward is to secure market leadership through outstanding service and technology innovation, allied with lowest cost to serve."

Mitie shares were down 6.66% at 133.10p at 1210 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mitie Group Market Data

Currency UK Pounds
Share Price 33.30p
Change Today 0.000p
% Change 0.00 %
52 Week High 85.97
52 Week Low 30.13
Volume 78,658
Shares Issued 1,171.01m
Market Cap £389.95m
RiskGrade 294

Mitie Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
40.47% below the market average40.47% below the market average40.47% below the market average40.47% below the market average40.47% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Price Trend
78.1% below the market average78.1% below the market average78.1% below the market average78.1% below the market average78.1% below the market average
79.13% below the sector average79.13% below the sector average79.13% below the sector average79.13% below the sector average79.13% below the sector average
Income
41.77% below the market average41.77% below the market average41.77% below the market average41.77% below the market average41.77% below the market average
27.03% below the sector average27.03% below the sector average27.03% below the sector average27.03% below the sector average27.03% below the sector average
Growth
12.20% above the market average12.20% above the market average12.20% above the market average12.20% above the market average12.20% above the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 4
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mitie Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Dec-19 27-Jun-19
Paid 04-Feb-20 09-Aug-19
Amount 1.33p 2.67p

Trades for 28-Sep-2020

Time Volume / Share Price
12:14 29 @ 33.45p
11:59 200 @ 33.45p
11:49 865 @ 33.30p
11:49 761 @ 33.30p
11:44 1,054 @ 33.15p

Mitie Group Key Personnel

CEO Phillip Bentley
Chair Derek Mapp
CFO Andrew Peeler

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