Another year of progress for Mitie

UK technology-led Facilities Management, Transformation and Compliance company, Mitie, has released its full year results for the 12 months to 31 March 2026 (‘FY26’), which reveals double-digit growth in revenue, operating profit and free cash flow, alongside a record order book and bidding pipeline.

Mitie reports revenue for the 12 months to 31 March 2026 (FY26) grew by 10.5% to £5,619m (FY25: £5,083m), with organic growth of 5.3%, which it states remains well ahead of UK Facilities Management market growth of c.2-3% p.a.

Operating profit before Other items was up 13% to £264m (FY25: £234m), while operating profit margin before Other items increased by by 10bps to 4.7% (FY25: 4.6%), despite headwinds.

During the financial year, Mitie secured £6.3bn total contract value (TCV) of contract wins/renewals/extensions, against a strong prior year comparative (FY25: £7.5bn). Mitie says it is now entering FY27 with a record order book of £16.3bn (FY25: £15.4bn) and pipeline of upcoming bidding opportunities of £31.7bn (FY25: £23.7bn), both of which include Marlowe for the first time following completion of its acquisition.

Looking ahead, Mitie states it is entering FY27 with confidence of delivering its FY25-FY27 Strategic Plan and continuing market share and margin expansion across the company’s Facilities Management, Transformation and Compliance businesses.

Commenting on the year and the outlook, Phil Bentley, CEO, said: “FY26 has been another year of progress as we enter the final year of our FY25–FY27 Strategic Plan, with double-digit growth in revenue and operating profit before Other items for the third consecutive year and good free cash flow generation. We also further developed our leadership into business-critical Facilities Compliance through the acquisition of Marlowe, and the integration is progressing well.

“Looking ahead, we enter FY27 with good momentum, supported by a record order book and bidding pipeline. Notwithstanding the potential for some incremental cost inflation as a result of the conflict in the Middle East, our ongoing margin enhancement initiatives, combined with the increasing mix of higher-margin Facilities Transformation and Facilities Compliance work and continued investment in data and AI, are expected to support margin progression, while we continue to reinvest for growth. We are confident of delivering our FY25-FY27 Strategic Plan.

“Mitie’s long-term value creation potential and foundations for the next phase of our strategy continue to be strengthened: capturing client ‘share of wallet’ in Facilities Management through deeper relationships and investments in sales & marketing; ‘turbo-charging’ Facilities Transformation through a growing pipeline of capital projects; and accelerating growth in Facilities Compliance with our existing clients, as we add Water & Environmental services and target larger opportunities in Fire & Security. Building on our leadership in technology, an enterprise-wide programme has been launched to re-imagine and optimise both our internal workflows and customer-facing solutions through agentic AI, positioning Mitie as a ‘frontier’ firm in the industry. Together, these strategic imperatives are expected to sustain above-market growth, expand margins and deliver attractive shareholder returns well beyond FY27.

“After almost a decade as CEO, it remains my intention to retire from Mitie at the end of the FY25-FY27 Strategic Plan, once a successor is in place – a process that is well underway. I am proud of the progress we have made in transforming Mitie into a world-class industry leader, positioned to deliver the ‘Future of High-Performing Places’ for our customers. I thank every one of our 84,000 Mitie colleagues for their dedication, professionalism and hard work, without which none of this could have been achieved. We are building a larger, more profitable and more cash generative business with a greater capacity to invest in growth and deliver attractive returns to shareholders.”