Contract wins help Mitie profits leap 9%

MITIE, the UK outsourcing group, posted a 9 per cent rise in halftime profits yesterday, boosted by a string of new contract wins, including Olympic Park gigs featuring Justin Timberlake and Bruce Springsteen, pictured.

Mitie: boosted by a string of new contract wins, including Olympic Park gigs featuring Bruce Springsteen. Picture: Getty

The company, whose 70,000 headcount includes 8,000 in Scotland for work ranging from facilities management to creative events, said it also won a three-year £38 million contract to provide cleaning for 1,600 Mitchells & Butlers pubs.

Mitie’s pre-tax profits climbed to £55.3m from £50.5m, as revenues grew 10.5 per cent to £1.04 billion. The interim dividend rises 6.5 per cent to 4.9p from 4.6p last time.

The company’s clients in Scotland include Standard Life and Royal Bank of Scotland.

Ruby McGregor-Smith, chief executive, hailed the “strong operational and financial performance”. She said: “We continue to identify new opportunities with both existing and new clients in all of our key markets.”