Support services group Mitie has predicted further acquisitions after revealing a 5.4% increase in pre-tax profit in the past year.

A series of acquisitions in the past 12 months in the security and ground maintenance sectors pushed the group's profit up to £50.5m, from £47.9m a year earlier.

Turnover for the firm, which employs more than 39,000 staff, rose 17% to £936m in the year ending 31 March, up from £800m the previous year.

Chief executive Ian Stewart said: "Mitie has a solid track record of developing a profitable business and it is our strategy to ensure that this continues. We will seek to grow organically and will make acquisitions within our chosen markets when appropriate opportunities arise."

The group's results were boosted by the performance of its property services division, where turnover rose 26.6% to £163.5m.

We will seek to grow organically and will make acquisitions

Ian Stewart, chief executive

The division's results are mostly the result of growth in the social housing sector, including a recently awarded contract from Birmingham council, worth more than £90m over four years. The contract covers the repair and maintenance of housing in the south of the city.

The firm's engineering services business also improved in the second half of the year after a restructuring. The division had struggled to improve margins in the competitive M&E sector.