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Outsourcer Mitie replaces finance chief as it issues another profit warning
January 18, 2017 / 7:46 AM / 10 months ago

Outsourcer Mitie replaces finance chief as it issues another profit warning

Jan 18 (Reuters) - British outsourcing firm Mitie announced a change of finance chief on Wednesday as it issued its third profit warning since September, saying business continued to be affected by customers delaying placing orders due to uncertainty following the Brexit vote.

The pest control to property cleaning, security and ancillary healthcare services provider named Sandip Mahajan, most recently finance head at construction firm Balfour Beatty Plc, as chief financial officer to replace Suzanne Baxter, who will step down from the board on Feb. 10.

Mitie said it would book an additional 14 million-pound ($17 million) one-off charge for the year to March 31, 2017 to reflect a more conservative assessment of its contractual positions.

Full-year underlying operating profit, including ongoing healthcare losses but before previously disclosed one-off costs of 10 million pounds, was now expected to be in the range of 60 million to 70 million pounds, Mitie said.

$1 = 0.8106 pounds Reporting by Esha Vaish in Bengaluru; Editing by Susan Fenton

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