Mitie has reported that its revenue is up 11 per cent and its operating profit up 5 per cent, according to its financial results for the six months ending 30 September 2019.
The revenue boost from continuing operations was driven by the VSG acquisition and the continued growth in strategic accounts was 4 per cent.
Operating profit before other items from continuing operations up 5 per cent is due to improved contributions from the Detention & Escorting Services contract and VSG, partly offset by lower renewal margins in certain contracts.
It also reported that project Forte, the two-year transformation programme of its engineering business, "had mobilised successfully and is tracking to plan, with confidence around the gross benefits of £30million".
Phil Bentley, chief executive of Mitie, said: "Our strategy remains to focus on our core businesses and our strategic accounts, where our investment in technology distinguishes our offer and improves customer service and margins. During the last six months, we have seen modest organic revenue growth with a higher level of extensions and significant new wins, including our largest integrated facilities management (IFM) account win for several years and our largest IFM account extension."
The company recently sold Mitie Catering to its strategic partner CH&CO.
Bentley said the "the catering disposal to our strategic partner CH&CO has strengthened our balance sheet and sharpened our focus on those business lines where we can secure a leading market position, underpinned by technology".