Monday, March 30, 2009

Mitie says outsourcing market is still attractive

The market for outsourced services remains attractive says Mitie.

Mitie, the outsourcing and asset management company, issued a trading update this morning ahead of its financial results for the 12-month period ending on 31 March.

Profits are reported to have been in line with management expectations.

Mitie enjoyed “good growth” in the second half of the year, despite a slowing in some areas of its business such as interior fit-out and new-build housing – though it only has limited exposure to these sectors

“In the period since our last interim management statement, we have been particularly pleased with our progress in sectors that support the UK’s national infrastructure, both through our public and private sector clients,” says the group.


Mitie says outsourcing market is still attractive


Utilities - preferred bidder for a six-year integrated facilities management contract with Thames Water with an estimated total to Mitie of over ВЈ100m.

Healthcare - a multi-service contract with St. Georges Healthcare NHS
Trust, whose main site in Tooting, South West London, is one of the UK’s largest teaching hospitals.

Social housing - day-to-day responsive repairs to 6,500 properties in Hampshire, Wiltshire and Berkshire in a four-year contract with Wessex Housing Partnership with a total value of ВЈ9m.

Also an award from St Pancras & Humanist Housing Association, valued at ВЈ7m over four years, to deliver a responsive repairs, voids and adaptations
service to the tenants of 5,300 homes across North London and the Home Counties.

In North Hampshire, Mitie has renewed and expanded its repairs and maintenance contract with Sentinel Housing Association. The new contract, valued at ВЈ50m over five years, starts in April 2009. It involves 7,300 homes.

Lovell homes in on Wellingborough
VantagePointe development planned
Business briefs: Mortgage rates are lowest on record
Rok Building and Mitie among 17 vying for £40m framework