29th Sep 2015 06:54
LONDON (Alliance News) - Outsourcer Mitie Group PLC on Tuesday said it has performed well in the first half of its financial year and said it remains confident of delivering robust organic revenue growth for the year to the end of March.
The FTSE 250-listed company said its organic revenue has been strong in the first half, ending on Wednesday, with growth driven by new contracts and expansions of existing deals. Mitie said 94% of its target revenue for the full year has been secured and it said its overall performance will be weighted, as normal, to the second half.
The group has restructured into a purely services-focused business, with its core operations in its UK facilities management business. Its social housing business has performed well in the first half, though its homecare unit is facing a tough market, though it said it recently secured two new contracts for the division.
Mitie also said it is confident that the introduction of the National Living Wage in the UK, an effective minimum wage for over-25s, will not have a material impact on its future earnings.
By Sam Unsted; [email protected]; @SamUAtAlliance
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