Mitie climbs most in three years on Lloyds work win

SHARES in support services group Mitie leaped as much as 8.5 per cent during trading yesterday after it said it was the preferred bidder for a contract with Lloyds Banking Group.

The contract news – which would see the winning bidder provide integrated facilities and energy management for the entire Lloyds branch network and offices – sent Mitie’s shares to their highest level since April 2009.

Earlier this year Mitie partnered with the UK’s prison service to bid for a 15-year management contract for services to nine prisons.

Its shares have risen more than 17 per cent since the start of the year following a series of contract wins. They closed yesterday up six per cent at 285p.