Mitie battles against margin erosion - UPDATE
19th Nov 2012 07:03
FTSE 250 outsourcing group Mitie appears to be suffering some pressure on margins, which coupled with higher costs has resulted in disappointing interims. Although revenues grew 5.6% to £1,026.6m (2011: 971.7m) in the six months ended September 30th 2012, pre-tax profits fell 12.9% to £37.7m (2011:
Read moreMITIE chosen by Kent housing association
5th Nov 2012 16:49
MITIE, the outsourcing and energy services firm, has been awarded a ten-year repair and maintenance contract with the Golding Homes housing association. The contract is worth £70m over the life of the contract, with the potential to rise to £120m if Golding Homes issues additional works. MITIE w
Read moreWednesday broker round-up - UDPATE
10th Oct 2012 08:22
African Barrick Gold: Nomura cuts target from 670p to 605p, buy rating kept. APR Energy: JPMorgan Cazenove initiates coverage with overweight rating and 1,005p target. ARM Holdings: Credit Suisse initiates coverage at neutral. ASOS: Seymour Pierce keeps hold rating and 1,900p target. Avanti Com
Read moreTuesday broker round-up
9th Oct 2012 09:05
3i Group: Morgan Stanley raises target from 221p to 233p, equal weight rating kept. Aberdeen Asset Management: Morgan Stanley raises target from 315p to 365p, overweigh rating kept. Aggreko: HSBC downgrades to neutral. Alternative Networks: Westhouse upgrades to strong buy. ASOS: Panmure Gordon
Read moreMITIE expands health and social care operations
9th Oct 2012 07:32
MITIE Group, which labels itself as a 'strategic outsourcing company', has acquired Enara group, the fourth-largest provider of home care services in the UK. Enara, which was acquired from August Equity and Enara's senior management team for a total consideration of £110.8m on cash and debt-free b
Read moreTuesday tips round-up: Mitie, FirstGroup, Eckoh
14th Aug 2012 07:02
After 25 consecutive years of growth outsourcing firm Mitie is highly valued but some in the City are wondering if the price has got ahead of itself, notes Tempus in The Times. Monday's trading statement indicates that all remains well. Mitie concedes that the world is in a difficult place, but rep
Read moreLondon close: Stocks fall as post-Olympic blues set in
13th Aug 2012 17:07
- Global equities finish broadly lower - GDP growth a concern in Japan and China - Greek GDP beats expectations Mixed news from the Eurozone and concerns over growth in Asia sent most stock markets across the globe into the red on Monday. "As the post-Olympic blues set in, European markets appeare
Read moreFTSE 250 movers: COLT rises after buying small cloud specialist
13th Aug 2012 15:59
Telecoms group COLT was leading the risers on the second-tier index after a bolt-on acquisition of a UK cloud computing specialist, beefing up its presence in the small to medium enterprises (SME) market. Colt has completed the purchase of Fidelity Telecom Limited, a privately-owned company which t
Read moreLondon midday: Global growth fears weigh on stocks
13th Aug 2012 11:40
- Mood dampened by slowdown in Japan, China - Germany could block aid to Greece - Summer rally loses momentum UK stocks were broadly unchanged by Monday lunchtime as the recent rally in global equity markets began to fade with worries about Asian economic growth weighing on sentiment. The Japanes
Read moreLondon open: Japanese slowdown weighs on stocks
13th Aug 2012 08:16
- Petrofac leads fallers early on - Japanese GDP growth misses forecasts - Germany could block aid to Greece The FTSE 100 fell slightly in early trade on Monday on concerns over the global economy after Japanese growth figures disappointed. The Japanese economy grew by just 0.3% in the second quar
Read moreMITIE makes a solid start
13th Aug 2012 07:20
FTSE 250 outsourcing and energy services group MITIE said it has made a 'good start' to its financial year, which started on April 1st. "With the successful commencement of our new contract with Lloyds Banking Group, we are well placed to achieve good levels of organic growth in the current financi
Read moreMonday broker round-up
21st May 2012 09:23
Aegis: Macquarie downgrades from neutral to underperform. British Land: Investec keeps buy rating and 540p target. BTG: Jefferies reiterates buy rating and 410p target. Informa: Investec maintains buy recommendation and 495p target. ITE Group: Investec keeps buy rating and 260p target. Kingfish
Read moreMITIE hails 'transformational' year
21st May 2012 07:52
Outsourcing and energy services company MITIE Group said 2011 had been a transformational 25th year for the company, with strong growth and a record order book. The firm posted revenue growth of 5.9% to £2bn in the year to the end of March, of which 5.4% was organic. Profit before tax increased by
Read moreMitie in partnership with Lloyds Banking
26th Apr 2012 13:37
Outsourcing and energy services company Mitie has agreed a partnership to deliver facilities management services for Lloyds Banking Group. The contract, which has been signed for a five-year term, has a possible one-year extension period, with an expected value of around £155m per annum. Mitie wi
Read moreWednesday broker round-up - UPDATE
21st Mar 2012 09:16
Bovis Homes: UBS lifts target from 395p to 465p, sell rating kept. Cairn Energy: UBS cuts target from 370p to 365p, neutral rating unchanged. Debenhams: Citigroup upgrades from hold to buy, target upped from 65p to 85p. Lamprell: Nomura raises target from 265p to 430p, buy rating kept. Logica: S
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