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Profit rise for facilities firm

MITIE Group, the strategic outsourcing and energy facilities company, has posted half-yearly profits of £48m before tax and other items, up 0.8% to the end of September.

The FTSE 250 firm is the UK’s second-largest energy services company and provides waste and other facilities management services in the public and private sectors.

The company said [pdf] it was confident about future growth with companies and public sector organisations looking to cut costs through outsourcing. Ruby McGregor-Smith, chief executive of MITIE Group, said:

“We are mindful of the challenging economic environment. However, the search for greater cost and energy efficiency is central to the strategies of governments and businesses in all our markets – and delivering better quality services, innovation and efficiency lies at the heart of what we do.

“With a record order book and a strong pipeline of sales opportunities, I am confident that the group will continue its outstanding track record of sustainable profitable growth.”

MITIE recently retained and expanded the Cumbrian Collaboration contract, a £200m facilities services deal which includes waste management across 500 nuclear industry buildings.

In September the company was confirmed as the operator of a planned waste wood gasification plant in Plymouth that will convert 40,000 tonnes of waste wood a year into heat and power.

MITIE was named alongside University College London (UCL) as winners of the CIWM Award last week for innovative practice in waste management for their partnership dealing with UCL’s clinical waste.  

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