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BRIEF-Mitie sees FY underlying operating profit of 60-70 mln stg
January 18, 2017 / 7:36 AM / a year ago

BRIEF-Mitie sees FY underlying operating profit of 60-70 mln stg

Jan 18 (Reuters) - Mitie Group Plc :

* Property management and technical fm divisions have been impacted by client deferrals and investment plan delays

* It is clear that our cleaning division is underperforming; management changes are being implemented.

* More conservative judgement on contractual positions, identifying an additional 14 mln stg of one-off charges in year.

* We now expect underlying operating profit for full year to 31 March 2017 to be in range of 60 mln stg to 70 mln stg

* Despite these lower forecast earnings, we expect to continue operating within our contractual banking covenants. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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