Lloyds contract bolsters Mitie

City A.M. Reporter
MITIE has enjoyed a solid start to 2012, thanks to a lucrative contract with Lloyds Banking Group.

The FTSE 250 company said yesterday that by 30 June, it had secured 87 per cent of budgeted revenues for the financial year, up from 85 per cent last year.

The five-year contract with Lloyds, worth £775m, is progressing well, according to the outsourcing firm. Mitie provides facilities management services for the banking group, including catering, cleaning engineering maintenance and security.