FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
Mitie has released its Q1 FY27 Trading Update for the three-month period ended 30 June 2026, reporting continued momentum with revenue up 10% to £1,406m (Q1 FY26: £1,282m), which is ahead of UK FM market growth of c.2-3%.
This performance included organic growth of 4% (inclusive of 2% pricing but after absorbing a 2% impact from contract losses in Technical Services last year), driven by new wins and projects work. M&A contributed a further 6% of inorganic growth, primarily driven by the prior year acquisition of Marlowe.
During the quarter Mitie won, extended or renewed contracts with up to £1.6bn TCV (Q1 FY26: £1.2bn), and reports a retention rate of 91% (Q1 FY26: 86%) which it states has improved and reflects its good sales momentum in the business.
The group has also entered FY27 with a record £32.5bn bidding pipeline (end FY26: £31.7bn), with >70% to be awarded in next 18 months. Mitie has also seen a strong start to Marlowe cross-sell opportunities, with pipeline at c.£700m ACV.
Commenting on the results and outlook, Phil Bentley, CEO, said: “I am pleased we have made a good start to the year, maintaining double-digit growth despite the impact of contract losses last year. Wins and renewals in the period were stronger than last year and will continue to improve with the new management team in Technical Services and the strength of our integrated, technology-led service proposition.
“With a strong order book and bidding pipeline, momentum will grow as we deliver our FY25-FY27 Strategic Plan and begin to look beyond, with the strategic foundations in place for FY28+. The Marlowe acquisition has broadened our Facilities Compliance capabilities and is creating significant cross-sell opportunities with our FM customers. Alongside this, our focus on capturing greater client share of wallet, winning more higher-margin Facilities Transformation projects and deploying agentic AI across the business is expected to continue delivering above-market growth and margin expansion over the medium-term.”
Coinciding with Mitie’s Q1 trading update is the announcement that OCS is set to acquire Mitie in a cash deal worth approximately £3.1 billion. See here for more details.
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