6 June 2019 | Herpreet Kaur Grewal
Mitie Group plc has reported that its revenue is up 9.4 per cent to £2.2 billion in its financial and operational results for the year ended 31 March 2019.
Organic growth at 5.5 per cent reflected "strong performance from top strategic accounts".
Operating profit before other items was up 6 per cent to £88.2 million. Operating profit is up to £50.2 million. The group's order book from continuing operations was stable at £4.1 billion, with its pipeline growing to £10.2 billion on the back of Mitie's inclusion in the Crown Commercial Services Framework.
Phil Bentley, chief executive at Mitie Group plc, said: "Our strategy of focusing on our larger businesses and strategic accounts where our technology offer is a true differentiator is beginning to deliver value for shareholders. Over full-year 18/19 we sharpened our focus by continuing to invest in customer service and technology and by exiting non-core businesses.
"Project Helix has provided solid foundations for Mitie's future growth, enabling investments in our people, customers and technology. With the foundations now built, we are now moving to Project Forte focused primarily on driving simplicity and efficiency in Engineering Services. Together with our focus on strategic accounts and larger businesses, we should see continued improvement in the group's profits. At the same time, we are making good progress in strengthening our balance sheet."