26th Jul 2007 07:01
MITIE Group PLC26 July 2007 26 July 2007 MITIE Group PLC - Interim Management Statement MITIE Group PLC, one of the UK's leading support services companies, deliveringfacilities, engineering and property services holds its Annual General Meetingtoday at 12.00 noon and is publishing its first Interim Management Statement. The statement relates to the year to date period from 1 April 2007 to 25 July2007. Trading UpdateMITIE is pleased to confirm that it is continuing to perform in line withmanagement expectations and that market conditions remain favourable. The strong organic growth of MITIE, supported by successful acquisitions, hascreated a Group with a nationwide presence in almost all of its services. TheGroup's market position is opening up new opportunities, with the size ofcontracts that MITIE is able to tender for increasing year on year. Suchopportunities were not previously available to the Group. The Group's order book remains strong at £4.1bn and 81% of the Group's budgetedrevenue for the year ending 31 March 2008 is now secured. Recent DevelopmentsOn 2 April 2007, MITIE acquired the plumbing and heating company Robert Prettie& Co Limited (Robert Prettie) for an initial consideration of £8.6 million and apotential deferred consideration based on performance over three years up to amaximum of £23.3 million, giving a maximum total consideration of £32.7 million. This acquisition has added significantly to MITIE Property Services'capabilities in the housing sector and has complemented its existing regionaloperations. Robert Prettie works in partnership with Local Authorities,Councils, Developers and Registered Social Landlords on kitchen and bathroominstallation, heating replacement, gas servicing, maintenance and call outservices. Future Reporting DatesMITIE will be announcing its interim results for the half year ending 30September 2007 on 26 November 2007. Notes to editors For further information, please contact: David Revis, Investor Relations and PR ManagerT: 020 7034 7306 M: 07979 702465 John Telling, Head of Corporate Affairs T: 020 7034 7304 M: 07979 701006 MITIE is one of the UK's leading support services companies, deliveringfacilities, engineering and property services to more than 6,000 public andprivate sector clients. It is also one of the UK's largest employers with over44,000 people supporting customers every day. MITIE provides all of the facilities services that organisations may wish tooutsource including Catering, Cleaning, Document Management, Front of HouseServices, Energy Services, Engineering Maintenance, Facilities Management,Landscaping, Grounds Maintenance, Pest Control, Security and Waste andEnvironmental Services. MITIE also offers engineering and property services,improving buildings for its customers by providing Building Refurbishment,Fit-Out and Maintenance Services, together with Mechanical and ElectricalEngineering. MITIE's unique share ownership ethos 'Management Incentive Through InvestmentEquity' (MITIE) encourages its employees to focus on what its customers want.MITIE's success in delivering sustainable growth, through responsible andproactive engagement with stakeholders, has enabled the Group to become a FTSE250 company, achieving annual revenues of over £1.2bn. For further information, please visit the Group's website www.mitie.co.uk. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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