Mitie Group (MTO)

Sector:

Support

Index:

FTSE Small Cap

134.50p
   
  • Change Today:
      0.80p
  • 52 Week High: 168.30
  • 52 Week Low: 119.00
  • Currency: UK Pounds
  • Shares Issued: 365.94m
  • Volume: 548,678
  • Market Cap: £492.19m
  • RiskGrade: 182

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 134.50p
Change Today 0.80p
% Change 0.60 %
52 Week High 168.30
52 Week Low 119.00
Volume 548,678
Shares Issued 365.94m
Market Cap £492.19m
RiskGrade 182

Mitie Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.36% above the market average42.36% above the market average42.36% above the market average42.36% above the market average42.36% above the market average
56.14% above the sector average56.14% above the sector average56.14% above the sector average56.14% above the sector average56.14% above the sector average
Price Trend
28.97% below the market average28.97% below the market average28.97% below the market average28.97% below the market average28.97% below the market average
40.98% below the sector average40.98% below the sector average40.98% below the sector average40.98% below the sector average40.98% below the sector average
Income
40.20% above the market average40.20% above the market average40.20% above the market average40.20% above the market average40.20% above the market average
51.22% above the sector average51.22% above the sector average51.22% above the sector average51.22% above the sector average51.22% above the sector average
Growth
31.06% below the market average31.06% below the market average31.06% below the market average31.06% below the market average31.06% below the market average
35.71% below the sector average35.71% below the sector average35.71% below the sector average35.71% below the sector average35.71% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 7
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 17-Feb-2020

Time Volume / Share Price
16:35 2,595 @ 134.50p
16:29 216 @ 132.90p
16:29 77 @ 132.90p
16:29 20 @ 132.90p
16:28 92 @ 133.60p

Mitie Group Key Personnel

CEO Phillip Bentley
Chair Derek Mapp
CFO Andrew Peeler

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