Mitie claims it is back on track after stronger half year

Mitie claims it is back on track after revealing improved numbers for the half year to end of September 2017.

The facilities management and professional services specialist reports adjusted revenue up 3.9% at £959.7m (1H 16/17: £923.7m); and reported revenues up 4% to £959.7m (1H 16/17: £922.6m)

Adjusted operating profit was up 5.8% at £32.6m (1H 16/17: £30.8m) and reported operating profit before other items up 2.2% to £32.6m (1H 16/17: £31.9m)

The company declared an interim dividend declared at 1.33p (1H 16/17: 4.0p)

Commenting on the numbers Phil Bentley, Chief Executive, Mitie Group plc, said: "This has been a period of transformation and investment for Mitie. We have had a solid six months with a modest uptick in revenue.

“We have continued to build foundations, take out costs, simplify systems and processes, invest in our capabilities and put the customer at the heart of our organisation.”

He added: "We have had a number of good recent wins, we have attracted some high-quality talent to the business, our Connected Workspace proposition is gaining traction and we are already seeing the benefits of our HR and IT change programmes. We have much more to do, but we are very much on track."

The company's share price remained largely unchanged in early morning trading at 225.