Published By Insider Media
MITIE GROUP UPS GUIDANCE AFTER STRONG PERIOD
Facilities management giant Mitie Group has been buoyed by a strong Q3, with revenue soaring. It has now upped its guidance for the year.
Turnover for the three months to 31 December 2021 was up from per cent from £667m to £1bn during the same period the year before.
However, the comparator quarter only included one month of revenue from Interserve.
Excluding this, the figure was 20 per cent ahead of Q3 FY21.
Income from Covid-related contracts was greater than expected at £109m, albeit a reduction of £40m from Q2.
Mitie now believes its FY22 revenue, including its share of joint ventures and associates, and operating profit before other items is expected to be higher than previously guided in to the regions of £3.8bn-£3.9bn and £160m-£165m respectively