Healthcare acquisition and new contracts boost Mitie revenues

Suzie Neuwirth
OUTSOURCING firm Mitie yesterday announced an 8.4 per cent increase in revenue, boosted by a raft of new contracts and a healthcare acquisition.

The FTSE 250-listed company reported revenues of £2.1bn for the year ended 31 March 2013, while pre-tax profits rose 5.4 per cent to £58.8m.

The Bristol-headquartered company was awarded contracts with BSkyB and Ladbrokes over the past year, as well as property management contracts with the London Borough of Hammersmith & Fulham and Golding Homes.

Mitie said that healthcare firm Enara – which it acquired for £110.8m last October – is already performing ahead of expectations.

“Whilst the economic environment remains challenging, we have reshaped the business to focus on long-term facilities management opportunities, as well as higher margin healthcare provision and energy consulting, all of which will support our growth aspirations,” said chief executive Ruby McGregor-Smith.

“We expect outsourcing opportunities will continue to grow.”