MARKET TALK: Mitie Interim Statement Confirms Trading In-Line

14th Jul 2010 07:55

0655 GMT [Dow Jones] Mitie Group's (MTO.LN) interim management statement confirms trading is in line with expectations says KBC Peel Hunt. The brokerage continues to look for March '11 pretax profit forecast of GBP105.9M and '12 of GBP114.9M. it expects cash generation to remain strong, with March '11 net debt of GBP64.0M, which is well within the facilities of GBP230M to January '12. KBC Peel says the outlook is reasonably robust but notes the public sector uncertainty ahead. The shares look up with events, it adds. Keeps at hold with a 240p price target. Shares closed on Tuesday at 214.9p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 02:55 ET (06:55 GMT)