28th Mar 2006 07:21
MITIE Group PLC28 March 2006 MITIE Group PLC ('MITIE' or 'the Company') Trading statement MITIE Group PLC is pleased to confirm that it has had a good second half to itsfinancial year and that it continues to trade in line with management'sexpectations. Market conditions remain positive. Two acquisitions were completed during the period. On 17 February 2006 MITIEacquired Lyndhurst Services Limited. Lyndhurst provides external groundsmaintenance services to commercial property sites across England, Scotland andWales and employs over 240 people. On 7 March 2006 MITIE acquired the entireissued share capital of Initial Security Limited (Initial Security UK), beingthe UK manned guarding business of Rentokil Initial plc. Initial Security UK isa leading supplier of security services, providing contract guarding, aviationsecurity, patrol and alarm response services and key holding to a wide range ofgovernment, commercial, industrial and retail clients on over 2,000 sites.Initial Security UK employs over 6,000 staff in 18 branches across the UK.Following the acquisition MITIE Security is now the second largest mannedguarding business in the UK employing over 9,000 officers. MITIE is in theprocess of integrating Initial Security UK with its existing security business. MITIE has been awarded three substantial contracts in 2006. In January MITIE wasawarded a contract to manage PricewaterhouseCoopers document management anddistribution services for the firm's UK operations. The contract will start inMay 2006 and is for an initial term of five years and is valued at approximately£50m. As reported in our interim results statement for the six months ended 30September 2005 MITIE has made a substantial investment in the social housingmarket. This investment has produced good results to date and the PropertyServices business has recently secured two major contracts: MITIE was named as preferred provider by Birmingham City Council for a contractworth in excess of £90m over four years with an option for the Council to extendthe contract for an additional three years. The contract will commence on 1April 2006 and will cover the repair and maintenance of housing in the CitySouth area. It covers 27,000 properties and involves over 80,000 repairs perannum. MITIE is also currently mobilising a contract with Milton Keynes Councilto provide responsive and void property repairs to all 12,000 of its homes. Thefive year partnering contract will start on 1 April 2006 and is estimated to beworth in excess of £25m with an option for the Council to extend for anadditional five years. As announced on 23 January 2006 Suzanne Baxter will join the Board as GroupFinance Director with effect from 10 April 2006. Following Mrs Baxter'sinduction to MITIE, Ruby McGregor-Smith will relinquish her responsibilities asGroup Finance Director and focus on her role as Chief Operating Officer ofMITIE. MITIE will report more fully when it announces its preliminary results for theyear ending 31 March 2006 on Monday 22 May 2006. 28 March 2005 For more information please contact: Ian Stewart, Chief Executive, MITIETel: 0117 970 8800 Ruby McGregor-Smith Chief Operating Officer, MITIETel: 0117 970 8800 John Telling, Head of Corporate Affairs, MITIETel: 020 7089 2500Mob: 07979 701006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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