Mitie on track despite property uncertainty

31st Jan 2011 07:36

Outsource specialist Mitie expects to hit forecasts this year as public sector business starts to pick up following the government's programme of cutbacks. "Mitie has made good progress during the year to date, securing new contracts as well as retaining and extending the scope of work with existing clients. Earnings for the full year are expected to be in line with management's expectations," it said. Private sector work generally has been going well, while public sector opportunities are expected to rise over the next twelve months. The level of contract awards across the group has increased since October. Property Management is one possible problem and there is risk of some delay in delivering both secured and prospective project work before the year end, Mitie cautioned."The pipeline has seen an increase in framework contracts across many of our markets. Across the business, the high level of both our order book and pipeline of contract opportunities makes us confident that Mitie is well positioned for sustainable, profitable growth," it concluded.