27th Jan 2026 08:29
(Alliance News) - Mitie PLC on Tuesday said it remains on course to hit financial targets amid a record order book and after a strong third quarter.
The London-based outsourcing and energy services provider said revenue rose 10% to GBP1.45 billion in the three months to December 31 from GBP1.31 billion a year earlier, marking a sixth consecutive period of double-digit percentage growth.
Mitie said it is "significantly outpacing" the UK facilities-management market.
The FTSE 250-listing which provides infrastructure consultancy, facilities management, property management, energy and healthcare services expects double-digit revenue growth to continue into the fourth quarter of its financial year, traditionally its strongest period due to winter services and increased public-sector project work.
Mitie's financial year runs to the end of March.
Mitie said its pipeline and order book are at record levels, driven by long-term structural demand and investments in sales, marketing and AI.
Contract wins and renewals total GBP4.7 billion year-to-date, while its bidding pipeline is up 28% to GBP30.4 billion.
The company also cited increased projects work in the public sector and continued momentum across its divisions, including the ongoing integration of Marlowe.
Mitie said Marlowe, acquired in August for around GBP350 million, is delivering early synergies and cross-selling opportunities. Marlowe is a London-based software provider for business compliance services.
Looking ahead, Mitie reiterated confidence in meeting financial 2025 to 2027 strategic plan targets, and said it remains on track to deliver financial 2026 revenue of around GBP5.7 billion, operating profit above GBP260 million, and free cash flow of at least GBP120 million.
In the financial year to March 2025, Mitie reported revenue of GBP5.09 billion, operating profit of GBP234 million, and free cash flow of GBP143 million.
Mitie has repurchased GBP43 million of shares so far under its GBP100 million buyback launched in October.
Shares in Mitie were down 1.2% at 168.60 pence each in London on Tuesday.
By Jeremy Cutler, Alliance News reporter
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