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Mitie Group PLC (MTO.L)

MTO.L on London Stock Exchange

157.70GBp
11:10am BST
Change (% chg)

3.70 (+2.40%)
Prev Close
154.00
Open
160.00
Day's High
160.00
Day's Low
157.70
Volume
11,235
Avg. Vol
361,409
52-wk High
170.10
52-wk Low
105.80

Latest Key Developments (Source: Significant Developments)

Mitie Group Announces IFM Contract Extension With Lloyds Banking Group
Thursday, 12 Sep 2019 

Sept 12 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - IFM CONTRACT EXTENSION WITH LLOYDS BANKING GROUP.MITIE GROUP PLC - HAS BEEN AWARDED AN EXTENSION TO ITS CONTRACT TO PROVIDE INTEGRATED FACILITIES MANAGEMENT (IFM) SERVICES TO LLOYDS BANKING GROUP.MITIE GROUP PLC - EXTENDED CONTRACT IS EXPECTED TO GENERATE REVENUES OF APPROXIMATELY £170M PER ANNUM..MITIE GROUP - CONTRACT EXTENSION COVERS 30 SERVICE LINES (INCLUDING ENGINEERING, SECURITY, CLEANING, CATERING AND DATA CENTRE SERVICES).  Full Article

Mitie Group CFO Paul Woolf Resigns
Wednesday, 11 Sep 2019 

Sept 11 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - BOARD CHANGE.MITIE GROUP PLC - BOARD TODAY HAS ACCEPTED RESIGNATION OF MITIE'S CHIEF FINANCIAL OFFICER, PAUL WOOLF.MITIE GROUP PLC - WOOLF HAS BEEN APPOINTED AS CHIEF FINANCIAL OFFICER OF CPA GLOBAL.MITIE GROUP PLC - APPOINTMENT OF PAUL WOOLF'S SUCCESSOR WILL BE SUBJECT OF A FURTHER ANNOUNCEMENT.  Full Article

Mitie To Sell Its Catering Business To Ch&Co For 85 Mln Pounds
Monday, 19 Aug 2019 

Aug 19 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - SALE OF CATERING TO NEW STRATEGIC PARTNER CH&CO.MITIE GROUP PLC - PROPOSED DEAL FOR A CONSIDERATION OF UP TO £85 MILLION IN CASH.MITIE GROUP PLC - DECISION TO SELL MITIE CATERING FOLLOWS A STRATEGIC REVIEW OF MITIE'S BUSINESS.MITIE GROUP PLC - PROCEEDS OF SALE WILL BE USED TO FURTHER STRENGTHEN MITIE'S BALANCE SHEET AND REINVEST IN MITIE'S CORE BUSINESS.MITIE - CO AND CH&CO WILL ENTER INTO A STRATEGIC PARTNERSHIP ENSURING THAT "GATHER & GATHER" CATERING OFFER REMAINS EXCLUSIVE TO MITIE'S CLIENTS.MITIE GROUP - DEAL CONSIDERATION COMPRISES AN INITIAL CONSIDERATION OF £73M PAYABLE IN CASH AT COMPLETION, AND A DEFERRED CONSIDERATION OF UP TO £12M.  Full Article

Rentokil Initial Says Now Expects To Spend Over £250 Mln On Acquisitions During Year
Wednesday, 31 Jul 2019 

July 31 (Reuters) - Rentokil Initial PLC ::STRONG FIRST HALF PERFORMANCE.HY ORGANIC REVENUE GROWTH OF 4.2%.CONTINUED MOMENTUM IN M&A AND INCREASED SPEND EXPECTATION FOR FULL YEAR.DIVESTMENT OF OUR 17.8% STAKE IN JV WITH HANIEL.HY ADJUSTED PRETAX PROFIT 141.6 MILLION POUNDS VERSUS 124.5 MILLION POUNDS AS REPORTED YEAR AGO.HY REVENUE 1,298.9 MILLION POUNDS VERSUS 1,176.1 MILLION POUNDS AS REPORTED YEAR AGO.HY DIVIDEND 1.51 PENCE.DIVESTMENT OF 17.8% INTEREST IN CWS-BOCO INTERNATIONAL GMBH TO HANIEL AGREED ON 30 JULY 2019 FOR CASH CONSIDERATION OF EUR 430M.NOW EXPECT TO SPEND OVER £250M ON ACQUISITIONS DURING YEAR.GUIDANCE FOR FULL YEAR REMAINS UNCHANGED.WILL CONTINUE TO SEEK FURTHER ACQUISITION OPPORTUNITIES FOR REMAINDER OF 2019 IN BOTH PEST CONTROL AND HYGIENE.HAVE MADE A STRONG START TO Q3, WITH A FURTHER THREE DEALS IN US AND LATIN AMERICA.ANTICIPATED SPEND ON M&A IN 2019 IS NOW EXPECTED TO BE ABOVE £250M, COMPARED TO OUR PREVIOUS GUIDANCE OF £200M - £250M.DISCUSSIONS WITH CMA CONTINUE IN RELATION TO OUR ACQUISITIONS IN UK OF CANNON HYGIENE AND MITIE'S PEST CONTROL BUSINESS.  Full Article

Mitie Awarded 5-Yr Multi-Service Facilities Management Contract With SIG
Monday, 15 Jul 2019 

July 15 (Reuters) - Mitie Group PLC ::AWARDED 5-YEAR MULTI-SERVICE FACILITIES MANAGEMENT CONTRACT WITH SIG PLC.UNDER CONTRACT, MITIE WILL PROVIDE ENGINEERING, FRONT OF HOUSE AND MAIL SERVICES.  Full Article

Mitie Group Expands Relationship With Public Body Historic Environment Scotland
Wednesday, 10 Jul 2019 

July 10 (Reuters) - Mitie Group PLC ::EXPANDED ITS RELATIONSHIP WITH PUBLIC BODY HISTORIC ENVIRONMENT SCOTLAND WITH A FIVE-YEAR CLEANING CONTRACT WORTH £4.4 MILLION.  Full Article

Mitie Wins Contract To Provide Cleaning Services For Cleveland Fire Brigade's Sites
Tuesday, 25 Jun 2019 

June 25 (Reuters) - Mitie Group PLC ::MITIE GROUP PLC - HAS WON A NEW CONTRACT TO PROVIDE CLEANING SERVICES ACROSS 16 OF CLEVELAND FIRE BRIGADE'S SITES.MITIE GROUP PLC - CONTRACT IS INITIALLY FOR A THREE-YEAR TERM WITH OPTION TO EXTEND FOR A FURTHER TWO YEARS.  Full Article

Mitie Sees Mid-Single Digit Oper. Profit Growth In FY 19/20
Thursday, 6 Jun 2019 

June 6 (Reuters) - Mitie Group PLC ::FY REVENUE FROM CONTINUING OPERATIONS 2.221 BILLION STG VERSUS 2.031 BILLION STG YEAR AGO.FY OPERATING PROFIT BEFORE OTHER ITEMS UP 6.0% TO £88.2M (FY 17/18: £83.2M).FINAL DIVIDEND RECOMMENDATION OF 2.67P, MAKING TOTAL FULL-YEAR DIVIDEND OF 4.0P PER SHARE (FY 17/18: 4.0P).FY REVENUE UP 9.4% TO £2.2BN (FY 17/18: £2.0BN).PERIOD-END NET DEBT FURTHER IMPROVED TO £140.7M (FY 17/18: £193.5M).PROJECT HELIX LARGELY COMPLETE WITH EXIT RUN-RATE SAVINGS OF C.£45M.PROJECT FORTE (PHASE II OF MITIE TRANSFORMATION) NOW LAUNCHED WITH PRIMARY FOCUS ON ENGINEERING SERVICES.FIXED-TERM ORDER BOOK FROM CONTINUING OPERATIONS WAS BROADLY FLAT AT £4.1BN AT FY END.EXPECT TO CONTINUE TO GROW REVENUE ORGANICALLY AT 3%-4% IN MEDIUM TERM.FY 19/20 EXPECT OPERATING PROFIT TO GROW AT MID-SINGLE DIGITS.FY 19/20 REVENUE GROWTH, COST SAVINGS PARTIALLY OFFSET BY DILUTIVE EFFECT OF FY 18/19 CONTRACT RENEWALS AND CONTINUED REINVESTMENT IN BUSINESS.PROJECT FORTE IS TWO-YEAR PROGRAMME WITH ESTIMATED GROSS RUN-RATE COST BENEFITS OF C.£30M BY MARCH 2021.PROJECT FORTE IS TWO-YEAR PROGRAMME WITH ESTIMATED ASSOCIATED ONE-OFF COST OF CHANGE OF C.£30M.PROJECT FORTE WILL ALSO INCLUDE FURTHER GROUP-WIDE ORGANISATIONAL CONSOLIDATION AND ADDITIONAL COST REDUCTIONS.PROJECT FORTE COST REDUCTIONS TO INCLUDE AUTOMATING MANUAL & PAPER-BASED PROCESSES, MIGRATION OF ACCOUNTING SYSTEM TO MITIE-WIDE SAP SOLUTION.  Full Article

UK's CMA Considering Whether To Accept Undertakings From Rentokil Initial For Mitie Unit Merger
Tuesday, 21 May 2019 

May 21 (Reuters) - UK's CMA::UK'S CMA- CONSIDERING WHETHER TO ACCEPT UNDERTAKINGS FROM RENTOKIL INITIAL PLC TO ADDRESS COMPETITION CONCERNS ARISING FROM MITIE UNIT MERGER.  Full Article

Mitie's Gather & Gather Wins Catering Contract With Edinburgh College
Thursday, 21 Mar 2019 

March 21 (Reuters) - Mitie's Gather & Gather::WINS £10M LONG TERM CONTRACT WITH EDINBURGH COLLEGE FOR CATERING AND HOSPITALITY ACROSS ITS FOUR CAMPUSES.  Full Article

UPDATE 1-UK Stocks-Factors to watch on Sept 11

Sept 11 Britain's FTSE 100 index is seen opening up 25 points at 7,293 on Wednesday, according to financial bookmakers, with futures trading up 0.4%.