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Sodexo Q3: Organic growth “better than expected”

Sodexo has published its results for the first nine months of Fiscal 2019, reporting organic growth above expectations at 3.5%. On-site Services organic revenue grew +3.2% reflecting continued improvement in North America, at +1.8% for the period, resulting from a first ...

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Interserve owed creditors in excess of £100m

Companies House filings show Interserve owed its creditors in excess of £100 million when it went into administration in March 2019. In total, Interserve owed £55.4 million to its secured creditors and another £50.5 million to its unsecured creditors. The ...

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Mitie makes ‘good progress’ in a challenging market

Facilities Management and professional services company, Mitie, has released its full-year results for the financial year ending 31 March, 2019 (FY18/19). Key financial highlights see an increase in revenue up 9.4% to £2.2 billion (FY 17/18: £2.0 billion) with organic ...

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Orbis Protect reports record financial results

Since the management buy-out of Orbis Protect last year, the national security services provider has posted its strongest ever annual financial results as the business announces new innovations and a growing client list. Turnover for 2018/19 increased by nearly 11 ...

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Construction industry holds auditors accountable for Carillion collapse

The construction industry views the collapse of Carillion as a result of aggressive accounting policies and a close relationship with KPMG. A survey of the supply chain conducted by public sector procurement specialist, Scape Group, finds that 93 per cent ...

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ISS reports strong organic growth in Q1 2019

ISS has seen its revenue increase by 4.9 % in Q1 2019 (Q4 2018: 0.5%), which its reports was mainly due to organic growth, and a marginally positive currency effect, partly offset by negative net impact from acquisitions and divestments ...

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FRC opens investigation into Interserve financial statements

UK audit watchdog, the Financial Reporting Council (FRC) has commenced an investigation into the audit by Grant Thornton UK LLP of the financial statements of Interserve Plc for the years ended 31 December 2015, 2016 and 2017. The investigation will ...

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Sodexo reports encouraging growth in first-half Fiscal 2019

Sodexo has published its results for the first half of Fiscal 2019, reporting a slightly better than expected growth in organic revenue at just over three per cent, with growth accelerating in all segments, and in Benefits & Rewards Services. ...

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Another robust year at Wilson Vale

Wilson Vale’s audited year-end results (31 December 2018) show that turnover has increased by 11 per cent in 2018 in line with projections to just under £34 million, with profitability up also. According to the Ashby-based catering firm, a number ...

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Mitie’s order book softens in FY 18/19 but optimism remains for future growth

Mitie has published a pre-close statement on the Group’s expected performance for the fiscal year ending 31 March 2019 (FY 18/19), subject to final audit, ahead of reporting full-year 18/19 results on 6 June 2019. Figures exclude the discontinued operations ...

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