Mitie considers acquisitions following strong interim results

M&E and support services firm Mitie has reported strong interim results for the six months to 30 September 2008, adding it has funds available for possible “selective investment” in new businesses such as facilities management and business development capability.

Mitie said the current economic climate has had no more than a minimal effect on “niche areas” of its business. In a trading update issued to the Stock Exchange, the firm said it was on course to hit earnings expectations and had already secured 98% of its expected revenue for the financial year to the end of March.

The update came on the back of Mitie winning preferred bidder status in two major public sector contracts – the £65m Derby Building Schools for the Future programme and a £78m slew of Decent Homes social housing work, comprising 21 000 houses across Hampshire, Middlesex, London, Essex, Renfrewshire and Glasgow.

Mitie will release its full-year results on 18 May.