August 29, 2017 / 6:17 AM / a year ago

UK financial watchdog investigates Mitie over September profit warning

Aug 29 (Reuters) - Britain’s financial watchdog is investigating outsourcing company Mitie Group over the “timeliness” of a profit warning last September and the preparation and content of its financial information, the company said on Tuesday.

“The company is fully cooperating with the (Financial Conduct Authority) but does not intend to update the market until completion of the investigation,” Mitie said in a brief statement, without giving any further details.

The provider of pest control, cleaning, security and healthcare services had already written down the value of its business after issuing three profit warnings in a year, blaming uncertainty surrounding Brexit and rising costs. (Reporting by Esha Vaish in Bengaluru. Editing by Jane Merriman)

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