FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
Mitie has released its trading update for the six months ended 30 September 2025 (H1 FY26). With strong revenue growth underpinned by continued momentum, Mitie has upgraded FY26 operating profit guidance to at least £260m and has resumed share buybacks with the launch of a new £100m programme.
Mitie delivered strong revenue growth in H1 FY26, with revenue up by c.10% to c.£2.7bn (H1 FY25: £2.4bn). This included c.6.1% organic growth driven by net contract wins, scope increases, pricing and higher projects volumes (including in the defence and healthcare, local government & education sectors). M&A, including the initial contribution from its completed strategic acquisition of Marlowe Plc, a specialist in Fire & Security and Environmental Services for c.£350m, and prior year acquisitions, added c.3.9% to revenue growth.
During the period Mitie secured, extended or renewed contracts with up to c.£3.0bn TCV, which included two notable public sector wins and the extension of its largest private sector contract.
Notable contract wins in the period included IFM for Aviva; immigration services for the Home Office; hygiene services for Landsec’s Liverpool ONE complex, Manchester Airport Group and Walgreens Boots Alliance; security services for the Metropolitan Police Authority and Tate Gallery; engineering services for Transport for London; and projects work for Willmott Dixon Construction.
Notable contract renewals and extensions included security for Associated British Ports, Co-operative Group and one of the UK’s largest supermarket chains; IFM for GSK, JLL and Manchester Airport Group; soft services for Barking Havering & Redbridge University Hospital NHS Trust; and the RAF Mildenhall Defence Infrastructure Organisation contract.
Mitie also reports a record £31bn pipeline of bidding opportunities for the first half of the year.
Looking ahead, Mitie says based on its encouraging performance in H1, it now expects operating profit before Other items for the year ended 31 March 2026 (FY26) to be at least £260m (FY25: £234m), inclusive of the contribution from the Marlowe acquisition. Its guidance, Mitie added, is underpinned by strong ongoing trading momentum, further benefits from the margin enhancement initiatives implemented in the first half of the year, good recovery of cost increases arising from inflation and NIC changes, and early progress with the Marlowe integration.
Mitie also states it is on track to deliver its ambitious FY25-FY27 Strategic Plan and financial targets.
Commenting on the H1 results and outlook, Phil Bentley, CEO, said: “Mitie’s strong momentum has continued in the first half of the year, reflective of the progress we are making to deliver our Strategic Plan and financial targets. We are well on the way to building a larger, more profitable and cash generative business with greater capacity to invest for growth and deliver increasing returns for shareholders.
“The acquisition of Marlowe in early August marked a major milestone in our Strategic Plan, consolidating Mitie’s technology and project-led ‘Facilities Transformation’ leadership and extending it into business-critical ‘Facilities Compliance’. The integration programme is progressing well, and we continue to expect to achieve at least £30m of cost synergies by FY28 alongside accelerated revenue growth through the cross-sell of regulatory driven services to Mitie’s clients.
“Our first half performance, combined with our continued growth momentum and progress with the Marlowe integration, provides the confidence to resume share buybacks with the launch of a new £100m programme, to be executed over the next 12 months.”
The way we work has changed – yet, many organisations are still relying on rigid, one-size-fits-all tools to manage desks and meeting rooms, according to a new study from workplace management solutions provider, Matrix Booking.
Spreadsheets, calendars, and generic booking software may have worked once, but they’re struggling to keep pace with today’s flexible, hybrid workforce. The result? Wasted time, frustrated employees, and expensive underutilised space.
Matrix Booking’s new study, ‘One-size-fits-all booking systems don’t work for today’s workforce’, explores why current systems are falling short – and how organisations can reimagine workspace management to boost efficiency, employee experience, and cost savings.
To download your FREE copy click here.
