Mitie sees yearly revenue rise to £2.27bn

Mitie Group, the facilities management company, has posted a revenue of 5.8% to £2.27bn for the year ended March 31.

Profits edged up by 0.9% to £128.6m in a year that saw Mitie retain and extend deal to provide services to Edinburgh-based Standard Life Investments.

Ruby McGregor-Smith CBE, Chief Executive, commented, “Mitie has made good progress this year. We have repositioned the business and lowered our risk profile. Our facilities management business accounts for c.85% of group revenue and is a UK market leader.

“We see considerable opportunities across our markets, to provide clients with higher quality, innovative services that save them money. We also see this as a positive environment in which to start and grow businesses, and we plan to back entrepreneurs to do this through our £20m ‘Mitie Model’ entrepreneurial fund.

“We are only as good as all our people, and supporting and developing them is critical to our ongoing success.

“We are focused on generating profits backed by cash, maintaining strong margins and growing the dividend. With a substantial order book and sales pipeline, we are now well placed to deliver good growth. We look ahead with confidence.”