November 21, 2019 / 7:25 AM / 22 days ago

UK's Mitie posts higher first-half profit

Nov 21 (Reuters) - British outsourcer Mitie Group Plc reported a rise in first-half profit on Thursday, but warned that Brexit and the upcoming election could reduce capital commitments by its clients and change their approach to outsourcing decisions.

“As the vast majority of Mitie’s client base is within the UK, we are particularly exposed to uncertainties in the UK’s political and economic landscape,” the company said in the risks section in its statement.

Mitie, which manages and maintains London’s landmarks, high street buildings and homes, said operating profit from continuing operations and before other items rose 5.4% to 33 million pounds ($42.65 million) for the six months ending Sept. 30. ($1 = 0.7737 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)

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