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MITIE Group PLC - Annual Financial Report

RNS Number : 8901S
MITIE Group PLC
28 June 2018
 

Mitie Group plc

28 June 2018

LEI number: 213800MTCLTKEHWZMJ03

 

Mitie Group plc (the 'Company') - Annual Financial Report

 

Following the release on 7 June 2018 of the Company's preliminary results for the year ended 31 March 2018 (the 'Preliminary Announcement'), the Company announces that it has published its Annual Report and Accounts for 2018 (the 'Annual Report and Accounts'). 

The Company's 2018 Annual General Meeting will be held at Mayer Brown International LLP, 201 Bishopsgate, London EC2M 3AF on 31 July 2018 at 11:30am.

Copies of the Annual Report and Accounts and the Notice of the Annual General Meeting for 2018 (the 'AGM Notice') are available to view on the Company's website:
www.mitie.com.  Hard copies have been mailed to those shareholders who have elected to continue to receive paper communications. 

 

Copies of the Annual Report and Accounts, the AGM Notice and the form of proxy in relation to the AGM are being submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do.

 

The Preliminary Announcement included a set of financial statements and a review of the development and performance of the Company.  In compliance with Disclosure Guidance and Transparency Rule (DTR) 6.3.5, the Company has extracted and set out below certain information from the Annual Report and Accounts.  This information is included herein solely for the purpose of complying with DTR 6.3.5 and the requirements it imposes on the Company as to how to make public its annual financial reports.  It should be read in conjunction with the Company's Preliminary Announcement issued on 7 June 2018.  Together these constitute the material required by DTR 6.3.5 to be communicated to the media in unedited full text through a Regulatory Information Service.  This material is not a substitute for reading the full Annual Report and Accounts.  Page numbers and cross-references in the extracted information below refer to page numbers and cross-references in the Annual Report and Accounts.

 

The information contained in this announcement and in the Preliminary Announcement does not constitute the Group's statutory accounts but is derived from those accounts.  The statutory accounts for the year ended 31 March 2018 have been approved by the Board and will be delivered to the Registrar of Companies following the Company's Annual General Meeting.

 

 

Principal risks and uncertainties

 

Strategic risks

Risk number: 1

Ineffective bidding for contracts and poor mobilisation and delivery processes, resulting in onerous contract terms, financial loss and damage to our customer relationships

 

Impacts on:

1 Customer

2 Cost

 

It is critical to our business model that we are able to develop competitive and profitable bids, and mobilise and deliver on a variety of contracts which are often over long periods and highly complex. In order to do this, we need to have a compelling and differentiated market offering, and balance the cost and margin pressures that are an important factor in our industry. Failure to do so would impact our ability to retain clients and secure new contracts, with a detrimental effect on our financial performance.

 

We need to fairly balance risk and reward, as well as contractual terms in our bids, and have suitable monitoring mechanisms to ensure this is achieved. It is important to make sure we can deliver the services in a contract, by fully understanding the risks involved and having the appropriate skills and resources required. Incorrectly assessing the risks may result in onerous contracts, penalties and early termination of contracts.

 

Failure to properly mobilise a contract may result in breaches of terms and conditions, additional unanticipated costs and problems with operational performance. In addition, the delivery of each contract must be closely monitored so that we understand our performance against the contract obligations and Key Performance Indicators (KPI), and that any changes are properly assessed and monitored.

 

If we are unable to deliver the services as agreed in the contract, this could have a negative impact on our customer relationships and reputation and lead to legal disputes with our customer and termination of the contract. We have a number of large integrated contracts and major service specific contracts, the loss of any of which would have a significant financial impact.

 

Controls and mitigations

Strategic account management

Revised group-wide Sales & Bid process rolled out

Centralisation and standardisation of pricing models

Executive management bid committee approval for complex bids

New Sales and CRM teams in place

Development of Connected Workspace and capability in professional services

Use of specialist mobilisation teams for complex contracts

Detailed contracting guidelines developed and rolled out

Revised and reissued delegated authorities register

Risk registers in place for large-scale contracts

KPI/SLA formal reviews with customers

Improved CRM capabilities with active relationship management

Focus on Net Promoter Score

 

Future plans

Ongoing review to redefine and optimise the way we use our CRM tool (SalesForce), to ensure best practice is shared across all client teams

Introducing new Sales Academy

 

 

Risk number: 2

Uncertainties in the economic, political and regulatory landscape which may have a negative impact on the demand for our services and our access to resources

 

Impacts on:

1 Customer

2 Cost

3 People

4 Technology

 

The performance of our business may be affected by general economic conditions and other financial and political factors outside its control. A downturn in the economic cycle usually results in decreased project work and discretionary spend by customers, which can lead to a fall in our financial performance.

 

Mitie drives most of its revenue from a client base in the UK, with limited exposure to the wider global economy. We continue to monitor the results of negotiations resulting from the decision of the UK to exit the European Union, commonly referred to as 'Brexit'. This may result in changes to the regulatory framework in which we operate, and could place restrictions on the mobility of individuals and hence availability of resources.

 

We need to be able to respond to variations in particular sectors by providing service solutions that are competitive and profitable. Our diverse business portfolio also helps provide resilience to economic uncertainty.

 

Controls and mitigations

Mix of long-term contract portfolio in both the public and private sectors

Development of professional services, Connected Workspace and new and innovative solutions

Focus on higher margin growth opportunities

Regular reviews of the sales pipeline

Increasing spread of client base, reducing reliance on individual customers

Strategic account management

Project Helix transformation programme

 

Future plans

Continue to develop Connected Workspace technology platform to provide next generation FM services that increase customer stickiness, improve win rates, increase retention and provide opportunities for higher margins

Significant increase in our customer retention focus through better understanding customer needs (NPS), improving operational efficiency and developing expertise and capability within our commercial function

Build a customer focus, demand led marketing and communication programme to better engage our customers

 

 

Risk number: 3

Poor sentiment towards the outsourcing sector could lead to fewer opportunities, increased scrutiny and an adverse effect on our reputation

 

Impacts on:

1 Customer

4 Technology

 

Mitie's reputation may be affected by the activities and results of other companies operating in our sector, as well as any negative publicity for our business. This has been particularly heightened since the liquidation of Carillion plc in January 2018. This has resulted in increased scrutiny of companies in the outsourced facilities management sector, regarding their financial health, operational performance and long-term prospects. In addition, it has increased debate, predominantly in the public sector, about the benefits and viability of outsourced contracts. We also operate a number of government contracts which attract very high levels of media scrutiny, for example immigration

removal centres.

 

If we are unable to demonstrate our ability to deliver the obligations in our existing contracts and financial performance in line with market expectations, we may be unable to retain existing clients or secure new contracts. In addition, any negative publicity in respect of our performance on public-sector contracts may have a negative impact on our financial performance and reputation.

 

Controls and mitigations

Regular engagement with both public and private sector clients

Strategic account management and increased cross selling to current customers

Project Helix transformation programme

Long-term contract portfolio and spread of client base

Strong relationships with financial institutions

Regular financial performance and balance sheet reviews

 

Future plans

Continue to source Connected Workspace technology platform to provide next generation FM services that increase customer stickiness, improve win rates, increase retention and provide opportunities for higher margins

Significantly increase our customer retention focus through better understanding customer needs (NPS), improving operational efficiency and developing expertise and capability within our commercial function

Build a customer focus, demand led marketing and communication programme to better engage our customers

 

 

Risk number: 4

Failure to deliver our transformation programme leading to lower benefits than anticipated, higher costs and weaknesses in operational processes

 

Impacts on:

1 Customer

2 Cost

3 People

4 Technology

 

To ensure that we develop and grow our business in line with the new operating model, our transformation programme (Project Helix) has been running throughout the year. The programme contains multiple projects designed to improve and optimise business processes, controls and operating structures, with major projects in areas such as Finance, IT, HR and our Engineering Services division.

 

The changes being introduced are vital to the future success of the business, and failure to adequately manage the programme of work, identify and manage interdependencies, develop appropriate solutions and implement the changes and ensure they are sustainable, could severely limit the pace at which these changes are delivered. Additionally, the investment required to implement the projects needs to be closely monitored, to ensure we deliver the expected operational and financial benefits and savings in overheads.

 

Controls and mitigations

Board and Executive Leadership Team (ELT) sponsorship and regular monitoring of the transformation programme

Highly experienced programme managers brought in to establish an overall programme management office, with effective governance, controls, monitoring mechanisms and reporting. This ensures regular oversight with clear visibility of progress and early warning of any challenges.

Experienced individuals within the business dedicated to the individual projects to allow focus on the transformational activity

Regular communication of progress and awareness of the impact of changes being introduced to minimise business disruption

Dedicated risk management and assurance procedures within the programme to ensure internal controls are operating effectively

 

Future plans

Develop a training programme for change management to build and enhance internal capability

Create a permanent Enterprise PMO capability to govern, manage and control all change management activities post-Transformation

 

 

Operational risks

 

Risk number: 5

Failure to maintain appropriate controls in and availability of critical IT systems leading to major contract delivery issues

 

Impacts on:

1 Customer

2 Cost

4 Technology

 

Technology is becoming increasingly critical to the success of our business in meeting customers' expectations. This is particularly important where we are responsible for looking after data and critical infrastructure on their behalf, and any failure could not only impact our ability to operate, but also the customers' business.

 

We are continuing to increase the use of technology with customers, especially as we develop our Connected Workspace offering, and need to ensure we have effective controls and monitoring in place.

 

In addition, we are seeking to automate processes and improve systems across our business to improve efficiency and control. A number of these initiatives are being delivered through our transformation programme (Project Helix); a key system change already delivered is a work management system in our Cleaning & Specialist Services division (also utilised by our Security division). Other significant planned changes include the implementation of improved HR solutions and a planning and scheduling solution for Engineering Services.

 

Investment in technology is critical to delivering on our contract obligations and to delivering operational improvements. As our dependency on IT solutions increases, we will need to continue to invest to minimise system failures and have adequate business continuity and disaster recovery plans.

 

Controls and mitigations

Standardisation and rationalisation of operational and ERP systems and infrastructure

Recruitment of highly skilled IT professionals who are familiar with the new technologies and can use these to de-risk the current estate

Improved cyber and operational controls for existing systems and included in all new system developments

Development and testing of effective business continuity and disaster recovery plans

Investment strategy and support for technology development

 

Future plans

The proposed outsource of routine IT operations to a partner organisation which has the scale and depth of skills to run this more effectively and with lower risk

The continued migration from the legacy estate to leverage new technologies, such as AI, big data, API management, open systems etc to improve scalability, performance and resilience

 

 

Risk number: 6

Inadequate controls over confidential and customer data and/or failure to comply with data protection legislation could lead to reduced confidence in our abilities to protect data and fines from regulators

 

Impacts on:

1 Customer

4 Technology

 

There has been an increase in the regulations and penalties for failing to adequately secure the data we hold regarding our customers, suppliers, employees and others. As with all organisations we face increased risk of cyber-attacks, malware and internal breaches, which could affect our operational performance and cause damage to our reputation. It is important that we maintain adequate security controls to prevent the loss or theft of data we hold.

 

In particular, we have a programme of work and dedicated team in place to ensure we are compliant with the General Data Protection Regulation (GDPR), which came into force in May 2018.

 

Information is an important asset for the business and needs to be protected at all times from disclosure or misuse. We handle information in many forms and have formal secure technical and

procedural controls in place to mitigate risks to the information. The secure processing, maintenance and transmission of sensitive and confidential data is achieved through the integrity, confidentiality and availability of our systems. Appropriately applied information security helps to ensure business continuity and minimise disruption by preventing or minimising the impact of security breaches. Failure to do this would raise questions about how we handle information with care, reduce confidence in our abilities and potentially expose us to significant fines from regulators.

 

Controls and mitigations

Centralised information security team in place and experienced new Chief Data and Security Officer recruited

Information Security Management System (ISMS) in place and certified to ISO/IEC27001:2013 for key information assets

IT security controls in place to proactively test, monitor, identify and respond to cyber threats

Cyber Essentials accreditation

Cyber insurance policy

Ongoing Security Awareness For Everyone (SAFE) programme

Information security considered for all new critical activities and products

 

Future plans

Adoption of new, and optimisation of existing, security functionality to respond to the evolving cyber threat landscape.

Further embedding the principles and procedures of Privacy by Design into core BAU activities

Transition of legacy email gateway functionality into the strategic toolset

Implementation of Single Sign-On (SSO), delivering security and end-user experience benefits

Redesign of Joiners-Movers-Leavers controls in line with new HR transformation activities and toolsets

 

 

Risk number: 7

Failure to adhere to sufficiently high standards in health, safety and environmental management resulting in harm to our employees, fines and damage to our reputation

 

Impacts on:

1 Customer

3 People

 

The nature of the services we perform for our clients means that there is potential for our employees, our partners and members of the public to be exposed to health and safety risks, and for environmental damage. It is essential that we maintain very high health, safety and environmental (HS&E) standards to manage these risks.

 

We are completely committed to ensuring our people operate in safe conditions, hard is not caused to others who may be affected by our activities and prevention of damage to the environment. Effective management of these risks is essential to the success of our business. Failure to do so could lead to significant harm to individuals and the environment and result in prosecution, action by regulators, fines and substantial damage to our reputation.

 

Controls and mitigations

A professional and skilled HS&E team

New Director of QHSE appointed and revised operational model introduced with clear roles and responsibilities

Regular training and communication delivered at appropriate levels throughout the company

Improvements in incident recording, monitoring and reporting

Certified HS&E management systems to OHSAS 18001 and ISO14001

Clear and standardised KPIs introduced to monitor progress and improvements

HS&E performance reviews conducted at divisional and Board meetings

 

Future plans

Implementation of QHSE Culture program (LiveSafe) specifically designed to develop QHSE cultural maturity across the organisation

Implementation of systems and processes which ensure effective sharing of QHSE learnings across the organisation and industry

 

 

Risk number: 8

Inability of our business to attract and retain sufficient talented resources with a resultant detrimental effect on our operational and financial performance

 

Impacts on:

1 Customer

3 People

 

To achieve our objectives and operate successfully we must attract, develop, motivate and retain talented individuals. If we fail to maintain a skilful workforce there will be an adverse impact on our operational and financial performance, and customer satisfaction.

 

It is important to have a variety of views and experience within the business and to attract specific technical expertise to enhance our customer offering. It is also essential that we develop and support the current and future leaders in our business. This will help ensure we have the right culture in the business to maintain high standards of working and an effective system of governance and control.

 

Controls and mitigations

Launch of Vision and Values

Updated and improved training portal developed and deployed during the year

Competitive remuneration, terms and conditions

Personal development plans related to annual performance appraisals

Succession planning and talent management

Regular employee communications and offers

 

Future plans

Partnership with 3aaa developed to utilise the Apprenticeship Levy to build capability and attract talent

Implementation of employee and manager self-serve technology to enhance employee experience

Digital learning suite to be rolled out

Action planning from engagement survey results

Creation of resourcing centre of excellence to enhance candidate experience

 

 

Financial risks

 

Risk number: 9

Inability to maintain access to sources of funding due to concerns over our financial strength could have a significant impact on our performance and client relationships

 

Impacts on:

1 Customer

4 Technology

 

It is important that we maintain a range of suitable sources of finance, including banking facilities, private placements and supply chain funding, in order to maintain a strong liquidity position. Failure to do so would restrict our ability to grow either organically or through acquisition, and affect our ability to meet our financial commitments. We need sufficient funds to be available to pay our suppliers, invest in our business and, most importantly, pay our staff on time, as this is our most

significant cost.

 

We continue to pursue initiatives to improve our financial position and given the concern about the viability of companies operating in our sector, we need to continue to demonstrate good financial discipline to maintain access to appropriate sources of funding.

 

Controls and mitigations

Maintenance of strong banking, debt and equity relationships

Committed long-term funding facilities

Focus on appropriate payment terms with customers and supply chain

Strong focus on and monitoring of cash collection

Daily monitoring of bank balances

Regular forecasting of cash flow

Regular financial performance and balance sheet reviews - which have been enhanced during the year

Regular monitoring of working capital

Policy on provisions

 

Future plans

Streamline our order to cash process

Introduce incentives linked to cash collection

 

 

Risk number: 10

Failure of a significant counterparty (e.g. supplier, banker) to deliver contractual requirements resulting in financial penalties and reputational damage

 

Impacts on:

1 Customer

 

To meet our contractual commitments and succeed as a business, we are reliant on our ability to manage our relationships with third parties including insurers, suppliers and banks. Poor performance or failure of one of these counterparties could have a significant impact on our operational and financial performance, and damage our reputation and client relationships.

 

It is important that we maintain effective ongoing relationships with our significant counterparties and monitor their performance, and develop contingency plans as necessary.

 

Controls and mitigations

Ongoing credit monitoring of significant counterparties

Annual material counterparty risk reviews and Board approval

Regular contact with external financial and commercial markets

Business continuity plans developed

Maintenance of sufficient committed debt facilities to minimise the impact of any adverse financial conditions caused by counterparty failure

 

Future plans

Exercise continued vigilance in monitoring and managing key counterparty relationships

 

 

Regulatory risk

 

Risk number: 11

Non-compliance with emerging legal and regulatory frameworks leading to fines, prosecutions and damage to our reputation

 

Impacts on:

1 Customer

3 People

 

The Group is subject to a wide variety of laws and regulations. These include employment, and anti-bribery and corruption laws, National Minimum Wage and the Apprenticeship Levy. Failure to comply with applicable legal and regulatory frameworks may result in significant fines, prosecutions, debarment from public sector contracts and revocation of licences, as well as damage to our reputation. This could harm our prospects of winning future bids and retaining

existing customers.

 

It is important that we maintain strong governance and oversight to ensure we continue to comply with legal and regulatory frameworks and that we respond to any changes that are introduced. It is also necessary to communicate the requirements to our employees to ensure they are fully aware and can demonstrate compliance.

 

Controls and mitigations

Group functions (including Company Secretariat, QHSE, Finance, Legal and HR) monitor requirements and assess the impact on the Group

Training and awareness is provided to employees for changes in laws and regulations

Ongoing compliance monitoring is undertaken and management is required to confirm compliance

Management oversight by Group and divisional leadership teams

External experts consulted for specialist advice

Code of conduct maintained and deployed to employees

External regulatory audits

Whistleblowing service launched and externally hosted

Tax reporting framework in place to ensure compliance with the Senior Accounting Officer rules

Group-wide policies and processes maintained in the Business Management System (BMS)

 

Future plans

Revised Group risk governance architecture will be rolled out during 2018

Digital learning suite to be rolled out

Recruitment of additional subject matter experts to Group functions

Ongoing review of BMS to update policies and process

 

 

Statement of Directors' responsibilities in respect of the Annual Report, the remuneration report and the financial statements

 

The following statement is extracted from page 116 of the Annual Report and Accounts and is repeated here for the purposes of Disclosure and Transparency Rule 6.3.5 to comply with Disclosure and Transparency Rule 6.3.  This statement relates solely to the Annual Report and Accounts and is not connected to the extracted information set out in this announcement or the Preliminary Announcement:

 

The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors are required to prepare the Group financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union and applicable law and have elected to prepare the Parent Company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 101 Reduced Disclosure Framework. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and Parent Company and of the profit or loss for the Group for that period.

 

In preparing these financial statements, the Directors are required to:

select suitable accounting policies and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

for the Group financial statements state whether they have been prepared in accordance with IFRSs as adopted by the European Union, subject to any material departures disclosed and explained in the financial statements;

for the Parent Company financial statements, state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the Parent Company financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group or Parent Company will continue in business;

prepare a Directors' report, a strategic report and Directors' remuneration report which comply with the requirements of the Companies Act 2006.

 

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Parent Company's transactions and disclose with reasonable accuracy at any time the financial position of the Parent Company and enable them to ensure that the financial statements comply with the Companies Act 2006 and, as regards the Group financial statements, Article 4 of the IAS Regulation. They are also responsible for safeguarding the assets of the Parent Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are responsible for ensuring that the annual report and accounts, taken as a whole, are fair, balanced, and understandable and provide the information necessary for shareholders to assess the Group's performance, business model and strategy.

 

Website publication

The Directors are responsible for ensuring the annual report and the financial statements are made available on a website. Financial statements are published on the Parent Company's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Company's website is the responsibility of the Directors. The Directors' responsibility also extends to the ongoing integrity of the financial statements contained therein.

 

Directors' responsibilities pursuant to DTR4.1

The Directors confirm to the best of their knowledge:

the Group financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union and Article 4 of the IAS Regulation and give a true and fair view of the assets, liabilities, financial position and profit and loss of the Group; and

the annual report includes a fair review of the development and performance of the business and the financial position of the Group and the Parent Company, together with a description of the principal risks and uncertainties that they face.

 

 

Related party transactions

The following extract from the Annual Report and Accounts refers to related party transactions as set out in Note 38:

 

Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this Note.

 

During the year, the Group derived £0.8m (2017: £0.2m) of revenue from contracts with joint ventures and associated undertakings and received £0.6m (2017: £0.6m) of dividends. At 31 March 2018 trade and other receivables of £0.2m (2017: £nil) were outstanding and loans to joint ventures and associates of £nil (2017: £nil) were included in financing assets.

 

Mitie Group plc has a related party relationship with the Mitie Foundation, a charitable company. During the year, the Group made donations and gifts in kind of £0.3m (2017: £0.3m) to the Foundation. At 31 March 2018 £nil (2017: £nil) was due to the Foundation and the Foundation had £nil (2017: £nil) held within creditors as an amount owed to Mitie Group plc.

 

No material contract or arrangement has been entered into during the year, nor existed at the end of the year, in which a Director had a material interest.

 

The Group's key management personnel include the Executive Directors, Non-Executive Directors and the Executive Leadership team. Details of the Directors' remuneration is included in Note 7. The underlying remuneration for other key management personnel, including the share-based payments charge is £5.6m (2017: £4.1m).

 

In the Annual Report and Accounts for the year ended 31 March 2017, the Company noted that, as a consequence of prior year adjustments to the accounts for the financial year ended 31 March 2016, the Remuneration Committee would determine what rights might be available to the Company to recover the bonus and other awards made to each of Ruby McGregor-Smith and Suzanne Baxter in respect of FY16. The matters which gave rise to the prior year adjustments are now the subject to the on-going investigation by the Financial Conduct Authority (the "FCA"), which the Company disclosed in its announcement on 29 August 2017. In that announcement, the Company reported that the FCA had commenced an investigation in connection with the timeliness of a profit warning announced by the Company on 19 September 2016 and the manner of preparation and content of the Company's financial information, position and results for the period ending 31 March 2016. The Company has been advised by its external lawyers that as any claim against Ruby McGregor-Smith and Suzanne Baxter would cover the same matters, facts and circumstances which are the subject of the FCA investigation, any formal steps to recover bonuses or other awards should be deferred until after the FCA have reached their findings. It is currently anticipated that the FCA will conclude its investigation during the course of FY19.

 

Details of transactions with Mitie Group plc Pension Scheme, and other smaller pension schemes, are given in Note 37.

 

-Ends-

For further information, contact:

Tori Cowley

Group Director of Corporate Affairs & Investor Relations

T: +44 (0) 203 123 8705

M: +44 (0) 781 852 8110

E: [email protected]

 

Peter Dickinson

General Counsel and Company Secretary

T: +44 (0) 203 123 8157

M: +44 (0)776 821 5013

E: [email protected]

 

Notes for editors

 

About Mitie Group

Founded in 1987, Mitie is the UK's leading facilities management and professional services company. We offer a range of specialist services including Security, Engineering Services, Catering, Cleaning, Pest Control, Landscaping, Energy and Property Consultancy, Property Maintenance, and Custody Support Services.

Mitie employs 53,000 people across the country, looking after a large, diverse, blue-chip customer base, from banks and retailers, to hospitals, schools and government offices. We take care of our customers' people and buildings, by delivering the basics brilliantly and by deploying advanced technology. We are pioneers in the Connected Workspace, using smart analytics to provide valuable insight and deliver efficiencies to create outstanding work environments for customers. 

Find out more at www.mitie.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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