Mitie Group PLC (MTO.L)
18 Aug 2017
* UK service companies facing margin pressure (Adds background, context, shares)
July 31 Britain's accounting watchdog said on Monday it was investigating Deloitte LLP's audits of two of the annual financial statements of Mitie Group Plc , the outsourcing company that issued a string of profit warnings last year.
British outsourcing firm Mitie expects to return to modest growth in underlying profit this year, citing new contracts and cost cuts after it axed its final dividend at the end of a troubled period.
* Final dividend axed but shares gain on outlook (Adds CEO and analyst comments, details, background, share movement)
June 12 British outsourcing company Mitie swung to a full-year operating loss on Monday after it restated its accounts following a review prompted by a string of profit warnings last year.
* He is appointed to board today and will take over as chairman from Roger Matthews at AGM on July 26
Britain's services firm Mitie announced on Wednesday a new writedown costing as much as 50 million pounds and said it might restate accounts to March 2016, but its shares climbed more than 7 percent as it reported steady revenues.
* New CEO overhauled management team (Adds CEO, analyst comments, updates share movement)
May 3 Britain's Mitie said on Wednesday it expected to writedown 40 million to 50 million pounds ($52 million to $64 million) and might restate its accounts for the year to March 2016 after an accounting review.
Britain's Mitie has struck a deal to sell its home healthcare business to specialist investor Apposite Capital for a nominal 2 pounds and is taking another writedown on the value of the loss-making business.
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