29th Mar 2007 07:00
MITIE Group PLC29 March 2007 MIITE Group PLC - Pre-Close Trading Statement 29 March 2007 MITIE Group PLC ('MITIE' or 'the Group') will enter a close period on 1 April2007. MITIE is pleased to confirm that it has performed well in the second half ofthis financial year and has continued to trade in line with management'sexpectations. Market conditions remain favourable. Progress in Security The integration of all of our security businesses, including that of last year'smajor acquisition, Initial Security Limited, has been successfully completed andMITIE will achieve the expected pre-tax synergy benefits of £3m per annum.MITIE Security is now a leading national business which is ranked second in themanned guarding market. It complements the Group's other activities, providingimportant opportunities for MITIE to deliver bundled services. In January, MITIE Security extended its long established relationship with HerMajesty's Courts Service ('HMCS') by securing all seven of the regionalcontracts tendered. The contracts are for an initial term of four years with theoption of a two-year extension. MITIE Security's work with HMCS has grown from aregional contract with a value of £8 million per annum to a portfolio ofcontracts which are now worth in excess of £22 million per annum. Board changes As announced on 31 January 2007, Ruby McGregor-Smith, the Group's ChiefOperating Officer, has been appointed Chief Executive of the Group with effectfrom 30 March 2007, succeeding Ian Stewart who will assume the role of NonExecutive Deputy Chairman. The Group will announce its results for the year ending 31 March 2007, on Monday21 May 2007. For further information, please contact: John Telling, T: 020 7022 8475 M: 07979 701006 Notes: 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 over43,000 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 & ElectricalEngineering. MITIE's unique share ownership ethos 'Management Incentive Through InvestmentEquity' (MITIE) encourages its employees to focus on what 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 £1bn. For more information please visit www.mitie.co.uk or email [email protected]. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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