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Mitie Group has reported a Group revenue up 10.4 per cent to £2,677m (H1 FY25: £2,426m), including 6.4 per cent organic growth for its half year results, which it says is driven primarily by net contract wins, projects and pricing.
The results, which mark the halfway mark in Mitie’s Three-Year Strategic Plan (FY25-FY27), also reveal it has benefited from record contract awards of £3.8bn total contract value, plus a 4.0 per cent contribution from acquisitions.
According to Phil Bentley, Group Chief Executive this sustained performance is a result of investments in sales & marketing; higher margin projects and compliance capabilities; and best-in-class customer-facing technologies and Artificial Intelligence (AI).
He said:
“At the start of our Strategic Plan, our ambition was to increase revenue by £1.2bn to £5.6bn in FY27 through high single digit annual revenue growth. We are comfortably on track to exceed this target, having delivered double digit growth over several successive periods, including in the first half of this year.
“Our business continues to demonstrate resilience and agility in navigating headwinds, including to mitigate the rise in employer National Insurance Contributions since April. We remain focused on delivering an operating margin of at least 5 per cent by FY27 through higher margin Facilities Transformation and Facilities Compliance growth; operational leverage; and through accelerating automation and AI efficiencies.
“As we look ahead to the second half of our Strategic Plan, over the next 18 months, I am confident that the positive macro trends underpinning our business will continue to support our accelerating growth ambitions, with Mitie being uniquely positioned to both expand its market reach and capture further market share.”
Mitie also announced the acquisition of Forest Group Holdings for a maximum cash consideration of £7m, adding specialist engineering expertise in commercial refrigeration.
A full copy of the report can be viewed here:
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