Strong results as MITIE bags Southampton energy efficiency work

Facilities services and outsourcing firm MITIE has bagged a £30million contract with Southampton City Council to deliver energy efficiency work to more than 2,100 properties. The initial deal is to […]

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By Vicky Ellis

Facilities services and outsourcing firm MITIE has bagged a £30million contract with Southampton City Council to deliver energy efficiency work to more than 2,100 properties.

The initial deal is to help the council’s work on the Government’s Green Deal and Energy Company Obligation (ECO) schemes over 19 months.

Today the FTSE 250 firm released its interim results for the first half of the year, with revenues up 10.5% to £1,044.6m and operating profit (before other items) rising 13.3% to £62.3m.

Ruby McGregor-Smith (pictured), Chief Executive of MITIE Group said: “The first half of the year has seen strong operational and financial performance for MITIE. We continue to identify new opportunities with both existing and new clients in all of our key markets.

“The successful re-positioning of the business means we are in a stronger and better position than ever to deliver higher growth and maintain strong margins. We look ahead with confidence.”

After plunging overnight to around 300p, share prices in the firm today hovered about 314p, some of the highest prices since a major dip over the summer to 248p when its annual report came out.

Alongside the Southampton deal it also announced a new three year £5m contract for facilities management at Kellogg’s UK and European head offices in Manchester and Dublin and specialist hygiene services to their plant in Wrexham.