Mitie has woken up this morning feeling totally reenergised and inspired as it announces a new makeover of the MITIE brand including a welcome (from a journalistic point of view) drop of the capitalisation of its name.
Along with the new brand, the facilities and property management firm has announced positive financial progress with good organic growth being driven by new and expanded contracts in its Q3, interim management statement.
Mitie is one of the UK’s corporate success stories, having grown earnings and dividends for 26 consecutive years, generating revenues in excess of £2bn, and employing over 70,000 people.
Over recent months, the firm has successfully secured and extended a number of facilities management (FM) contracts, including: one with Four Seasons Healthcare to deliver technical FM across its estate of care homes, with a total value of £33m over three years; a new contract delivering technical FM for The London Borough of Sutton, boasting a total value of £15m over seven years; and a new total security management contract for National Grid Plc with a total value of £4m over six years.
The firm’s property management division is said to have ‘seen some delays in the commencements of new contracts’, but has experienced improving market conditions in recent months. In particular, in the social housing market Mitie is seeing an increasing trend towards longer-term, larger, bundled contracts incorporating more service lines across larger portfolios.
Mitie’s energy management division is gaining new contracts from the the firm’s FM clients but is still weakened from exposure to its loss-making construction arm, and delays striving to exit from these contracts. The firm is also predicting the growth of its healthcare / homecare division as recent acquisitions begin to bear the fruit of new contract wins.
Mitie’s new visual identity is said to to reflect the firm’s vision to inspire change in the way people live and work and represent Mitie’s ethos that everything it does is about partnerships – with customers, suppliers, the community and the Mitie people who work together to deliver innovative solutions.
Ruby McGregor-Smith CBE, chief executive of Mitie, said:
“I am really excited that we have reinvigorated the Mitie brand to better reflect who we are as a business, both visually and culturally, for our people and our clients. Now is the perfect time for us to re-visit our image as we continue to grow significantly, in some really exciting new areas.
“The way we communicate and behave as a business is really important, and I’m confident that our new brand will encourage all of our people to excel, challenge and inspire in everything they do, for our clients and our continued success.”
Mitie’s new brand will roll out throughout the spring, starting today (3 February 2014).