Outsourcing specialist confident it will hit expectations for full-year results

Outsourcing specialist Mitie has released an optimistic trading update and is confident it will hit expectations for full year results.

The firm said it had a “good start” to the second half of its financial year, and had successfully expanded existing contracts and secured new work across all of its divisions. The quarter had been “particularly good” in the facilities management division, with new contracts from the financial services, utilities and transport sectors, it said.

It said it was seeing a “high level of opportunities” in the facilities and property management area, and had seen no further deterioration in new-build and fit-out markets. However, it added it was yet to see sustained recovery in this part of its business.

It added the coming calendar year would provide “considerable opportunities” for it, with private sector clients consolidating contracts to get cost and carbon efficiencies. It said: “We also expect the public sector to increase levels of outsourcing in response to budgetary pressures although the timing of such activity is currently difficult to predict.”

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