Skip to main content
Facilitate Magazine: Informing Workplace and Facilities Management Professionals - return to the homepage Facilitate magazine logo
  • Search
  • Visit Facilitate Magazine on Facebook
  • Visit Facilitate Magazine on LinkedIn
  • Visit @Facilitate_Mag on Twitter
Visit the website of the Institute of Workplace and Facilities Management Logo of the Institute of Workplace and Facilities Management

Main navigation

  • Home
  • News
    • Comment
    • People
    • Reports
    • Research
  • Features
    • Analysis
    • Features
    • Round Tables
    • Webinars
  • Outsourcing
    • Contract Finder
    • Contracts
    • FM Business Models
    • Interviews
    • Mergers & Acquisitions
    • Opinion
    • Procurement
    • Trends
  • Know-How
    • Explainers
    • Legal Updates
    • White Papers
  • Jobs
  • Topics
    • Workplace Services
      • Hospitality
      • Catering
      • Cleaning
      • Front of House
      • Grounds Maintenance
      • Helpdesk
      • Mailroom
      • Manned Guarding / Security
      • Pest Control
      • Washroom Services
      • Disaster Recovery
      • Specialist Services
    • Professional Performance
      • Behavioural Change
      • Continual Professional Development
      • Education
      • Management
      • Recruitment
      • Training
    • Workplace Performance
      • Benchmarking
      • Health & Wellbeing
      • Operational Readiness
      • Procurement
      • Security
      • Workplace User Experience
      • Workplace Culture
    • Compliance
      • Health & Safety
      • Risk & Business Continuity
      • Standards
      • Statutory Compliance
    • Building Services
      • Architecture & Construction
      • Asset Management
      • Building Controls
      • Building Fabric
      • Drinking Water
      • Fire Protection
      • HVAC
      • Landscaping
      • Mechanical & Electrical
      • Building Security
      • Water, Drainage & Plumbing
    • Technology
      • Building Information Modelling
      • CAFM
      • Data & Networks
      • Document Management
      • Information Management
      • Internet of Things (IoT)
      • Software & Systems
    • Energy management
      • Energy Management Systems
      • Electricity
      • Gas
      • Solar
      • Wind
    • Sustainability
      • Environmental Quality
      • Social Value
      • Waste Management
      • Recycling
    • Workspace Design
      • Agile Working
      • Fit-Out & Refurbishment
      • Inclusive Access
      • Lighting
      • Office Interiors
      • Signage
      • Space Planning
      • Storage
      • Vehicle Management / Parking
      • Washroom
    • Sectors
      • Corporate Office
      • Education
      • Healthcare
      • Manufacturing
      • International
      • Retail
      • Sports & Leisure
      • Regions
  • Buyers' Guide
Quick links:
  • Home
  • News
Reports
Trends

Mitie trading update shows ‘continuing strong performance’

Open-access content Friday 24th September 2021
Authors
Martin Read
Graph-shutterstock_1028158363.jpg

Shutterstock

Mitie has issued a statement in which it says it is enjoying strong trading performance while having also negotiated a more favourable revolving credit facility.

The group says that performance levels have continued in similar vein to those reported in its first-quarter trading update in July, supplemented by further Covid-related contract awards. Although the contribution from these contracts is expected to decline in the second half of the year, the group is increasing ITS operating profit expectations for the financial year 2022 to £145 million-£155 million.

Integration of the Interserve FM business into the Mitie group is “performing well” and “on track” for completion in November.

Mitie has also agreed on terms with DNB (UK) Ltd, Lloyds Bank plc, Santander UK plc, Landesbank Baden-Württemberg (LBBW) and National Westminster Bank plc for a £150 million revolving credit facility. This will run for a period of four years from September 2021, with the option to extend for a further year.

This credit facility replaces the £250 million facility put in place in June 2020; the group claims the new arrangement is on “significantly more favourable” terms.

The company’s official half-year results will be based on its new divisional structure following the integration of Interserve’s FM business. These will be published on Thursday 18 November 2021.

Mitie acquired Interserve’s FM business in December 2020. The group now employs 75,000 people.

Image credit | Shutterstock

Today’s top news stories

web_St-Thomas-hospital_credit_William-Barton_shutterstock_1065675728.png

Pareto FM bags slot on £5.8bn NHS framework 

Facilities services firm Pareto Facilities Management has gained a place on the NHS Total Facilities Management 2022 Framework. 
Thursday 7th July 2022
Open-access content
web_©Mears-Group_62c299d6f8bf3039b4cbe96b_Career.png

Mears Group secures housing repairs deal with Tower Hamlets Homes

Mears Group has been awarded a five-year building repairs contract by East London housing association Tower Hamlets Homes. 
Thursday 7th July 2022
Open-access content
web_©Sodexo_Abingdon-School.png

Sodexo renews catering contract with Abingdon School

Independents by Sodexo has secured a seven-year contract extension with Abingdon School, an independent day and boarding school located near Oxford.
Wednesday 6th July 2022
Open-access content
web_Hybrid-working_credit_Celia-Ong_shutterstock_2044892786.jpg

Employers ‘failing to promote benefits of office working’

Workplace and facilities management thought leaders have warned that employers aren’t doing enough to attract their people back to the office in research released last week by IWFM in partnership with Ricoh.
Reports
Surveys
Wednesday 6th July 2022
Open-access content
web_Kwasi-Kwarteng_©Parliament-UK_CC-BY-3.0_Portrait.png

Energy bill introduced to Parliament 

The energy security bill announced as a part of the Queen's Speech was introduced into Parliament this week by Kwasi Kwarteng, Business and Energy Secretary.
Wednesday 6th July 2022
Open-access content
web_Cabinet-office-plaque_CREDIT_pxl.store_shutterstock_709350121.png

Mace and Wates FM sign up to CCS framework

Wates is expanding its presence in the public sector with its places on lots 2A and 2B. The firm said that social value would form a significant part of contract delivered through the framework, reflecting the provider’s “commitment to ensuring diversity and inclusion, creating opportunities for training and employment and embedding social enterprises within its supply chain”.  The appointment sees Wates Group build on its position as a CCS frameworks supplier, including CCS’s Construction Works and Associated Works and the Government Hubs Fit-Out Framework. Wates FM’s presence on public sect
Wednesday 6th July 2022
Open-access content
Filed in:
News
Also filed in:
Reports
Trends

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Today's top reads

 

Latest Jobs

Project Leader (Maternity Cover One Year Contract)

Cambridge
Circa £50,000 Pro Rata + Benefits & Opportunities
Reference
56378

Maintenance Supervisor

Surrey
Up to £43,000 + Excellent Package & Opportunities
Reference
56376

Regional Facilities Manager

South West England
Circa £40,000 + Benefits & Opportunities
Reference
56375
See all jobs »

 

 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to print

Sign up to receive our bi-monthly magazine

Subscribe
Facilitate magazine cover, June 2020
​
FOLLOW US
@Facilitate_Mag
Facilitate Magazine
Facilitate Magazine
CONTACT US
Contact us
Tel: 020 7880 6200
​

IWFM

About IWFM
Become a member
Qualifications
Events

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to Facilitate Magazine
Write for Facilitate Magazine

General

IWFM Jobs
Help

© 2022 • www.facilitatemagazine.com and Facilitate Magazine are published by Redactive Media Group. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ