Great expectations for Mitie as outsourcer wins new deals

 
Royal Opera House: a Covent Garden spokeswoman said they were unable to comment
19 November 2012

Mitie, the outsourcer which screens baggage at Heathrow and cleans the Royal Opera House, expects revenues to rise over the next six months thanks to a clutch of contract wins.

The deals, which include its new biggest contract — a five-year, £755 million tie-up with Lloyds Banking Group — helped to push revenues up 5.6% to £1 billion in the six months to October.

Chief executive Ruby McGregor-Smith said she hoped last month’s £111 million acquisition of Enara, one of Britain’s largest home care firms, will help Mitie to expand into healthcare during the rest of this year.

She added: “This has been a positive start for Mitie.” The half-year dividend was raised 4.5% to 4.6p per share.

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