Mitie issues a profit warning

Joseph Millis
OUTSOURCING giant Mitie yesterday issued a profit warning over the government’s squeeze on social-housing spending.

The FTSE 250 firm has a varied portfolio of operations, including cleaning the Tower of London, killing pests at Imperial College London and pouring champagne at the Chelsea Flower Show.

Shares plunged 5.5 per cent as the firm said council spending cuts had hit its home-care and social-housing businesses.