Mitie on track for strong second half as contract wins pay off

OUTSOURCING company Mitie said yesterday it expects total revenue growth to be higher in the second half on the back of its recent Lloyds Banking Group contract win and acquisition of healthcare group Enara.

Mitie, which bought Enara last October for £110.8m, said it remained focused on the healthcare, local authority and social housing markets in the public sector. It said yesterday it had netted a waste management contract worth £3m with Kings Health Partners, and had retained a £4.7m cleaning contract with the East Hull Primary Care Trust.

With regards to the private sector, the FTSE 250 outsourcing firm said it continued to see growth. Last year it secured a £775m five-year contract with Lloyds Banking Group, and a five-year contract with Sky worth more than £100m.

Chief executive Ruby McGregor-Smith told City A.M. that Mitie remained focused on future M&A opportunities in the private sector, particularly in the energy and healthcare sectors.