Mitie expects mid-single-digit growth

Mitie Group has issued a buoyant trading statement in advance of its half-year results on 23 November 2009.

The board expects that Mitie will achieve organic revenue growth in the mid single-digit range, with stronger growth in the second half of the year reflecting the benefit of contracts and project work awarded in the first half. Revenue for the first half of the year is expected to be marginally ahead of the prior year.

The group bought Dalkia Technical Facilities Management in August this year. “We have been pleased with the initial positive feedback from our people and our clients on the acquisition of DTFM,” said the statement.

Mitie has identified a growing market opportunity to implement carbon reduction, sustainability and environmental programmes and the transaction represents a significant opportunity for Mitie to support this increasing client demand.

Mitie’s Facilities Management division has shown strong growth in the first half of the year with a number of new contract awards and the expansion of existing contractual relationships. “We have continued to see development of the FM market as clients increase outsourcing activities in a drive for enhanced efficiency and cost reductions. This is increasing both the scale and duration of opportunities available to Mitie,” said the company.

Its Asset Management and Property Management divisions have continued to experience challenging conditions, particularly in the areas of new build housing and interior fit-out, where projects have been delayed and clients have reduced their levels of discretionary expenditure and investment.