Private sector boosts Mitie

Support services supplier Mitie saw profits, turnover and staff numbers all rise last year, according to its preliminary results announced today.

Pre-tax profit rose 9% to £86.8m for the year ending 31 March 2011, up from £79.7m.

Turnover also jumped 10% to £1.89bn from £1.72bn and 5,000 new staff joined the firm during the year.

The strong numbers reflected a glut of private sector wins, with over 75% of new contract awards coming from private firms.

Major contract wins included facilities management contracts for Rolls Royce and Vodafone.

Ruby McGregor-Smith, Mitie chief executive, said: “These are very good results and this year we have been awarded a number of transformational contracts.

“We have secured some significant work in the private sector where we have excellent relationships with our clients and are differentiated by our energy services capabilities and use of technology.

“We have been appointed to several large public sector frameworks and have a strong pipeline of opportunities in local government, social housing, justice and health.

“The opportunities in outsourcing and energy services in the UK and abroad are significant.

“Our strong balance sheet and excellent cash conversion, as well as a record order book and sales pipeline, will enable us to achieve our growth aspirations.

“The business is well positioned for continued sustainable, profitable growth.”