Cleaning, pest control, security and catering at events such as next month’s Clapham Calling gig featuring Stevie Wonder helped outsourcer Mitie today post a forecast-beating 4.3% rise in full-year pre-tax profit.
The group, which does everything from screening baggage at Heathrow Airport to pouring the champagne at the Chelsea Flower Show this week, said profit in the year to April was £113.3 million, better than the analysts’ consensus estimate of £110.4 million.
The group has exited weaker-margin business such as engineering and construction support and took a £25.4 million hit this year.
Chief executive Ruby McGregor-Smith said it is focusing on growing via “bundled and integrated services”. She added that the order book stood at £8.7 billion, and about 64% of its work is now in the private sector.
But it recently won a £180 million eight-year Home Office contract for detainees at immigration centres near Heathrow. Its healthcare division, where it works with local authorities, is also a key growth area.
