MITIE Group PLC
29 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 April
2007.
MITIE is pleased to confirm that it has performed well in the second half of
this financial year and has continued to trade in line with management's
expectations. Market conditions remain favourable.
Progress in Security
The integration of all of our security businesses, including that of last year's
major acquisition, Initial Security Limited, has been successfully completed and
MITIE 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 the
manned guarding market. It complements the Group's other activities, providing
important opportunities for MITIE to deliver bundled services.
In January, MITIE Security extended its long established relationship with Her
Majesty's Courts Service ('HMCS') by securing all seven of the regional
contracts tendered. The contracts are for an initial term of four years with the
option of a two-year extension. MITIE Security's work with HMCS has grown from a
regional contract with a value of £8 million per annum to a portfolio of
contracts 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 Chief
Operating Officer, has been appointed Chief Executive of the Group with effect
from 30 March 2007, succeeding Ian Stewart who will assume the role of Non
Executive Deputy Chairman.
The Group will announce its results for the year ending 31 March 2007, on Monday
21 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, delivering
facilities, engineering and property services to more than 6,000 public and
private sector clients. It is also one of the UK's largest employers with over
43,000 people supporting customers every day.
MITIE provides all of the facilities services that organisations may wish to
outsource including Catering, Cleaning, Document Management, Front of House
Services, Energy Services, Engineering Maintenance, Facilities Management,
Landscaping, Grounds Maintenance, Pest Control, Security and Waste and
Environmental 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 & Electrical
Engineering.
MITIE's unique share ownership ethos 'Management Incentive Through Investment
Equity' (MITIE) encourages its employees to focus on what customers want.
MITIE's success in delivering sustainable growth, through responsible and
proactive engagement with stakeholders, has enabled the Group to become a FTSE
250 company, achieving annual revenues of over £1bn.
For more information please visit www.mitie.co.uk or email group@mitie.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
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