Mitie Share Discussion Threads

[johnwise] 16/4/2024 07:43

MARKET REPORT: Mitie shares soar as it snaps up new contracts

Public and private sector firms are turning to the outsourcing giant Mitie for all sorts of services, from installing solar panels to cleaning hospitals and painting car park lines.

Such demand helped the FTSE 250 group post record annual revenues and launch a share buyback.

The stock gained 6.6 per cent, or 7.4p, to 119p.

[eigthwonder] 15/4/2024 08:22

Nice trend of steady delivery being established here

[davetedjack] 26/11/2023 19:01

Anyone know why the big fall on Friday?All looking ok isn't it ?

[kalai1] 11/10/2023 14:19

Mitie Group plc issued a pre-close trading update for the HY ended 30th September this morning. H1 Group revenue is expected to be up by c.11% to £2.1bn while order books look very strong with c.£2.2bn total contract value of new contract wins and extensions/renewals. The business continues to expand acquisitively, £46m was invested in five higher growth, higher margin strategic bolt-on acquisitions during the period. The balance sheet remains healthy although net debt increased to c.£115m reflecting the higher M&A spend and ongoing shareholder returns. A second £25m SBB tranche was started today. Guidance was also raised with FY24 operating profit before other items expected to be at least £190m underpinned by good ongoing trading and delivery of margin enhancement initiatives. Valuation also remains very attractive with forward PE ratio at 10.1x top third for the Professional & Commercial Services sector. Last but not least the share price remains in a solid uptrend and has positive momentum accordingly. BUY...

...from WealthOracle

[volsung] 19/7/2023 12:31

taken a small stake here. Looks to be going places

[pundit1] 11/7/2023 11:55

Philip Jansen going.

[longwell] 03/7/2023 16:09

Ceo leaving will ignite share price. Imminent.

[swiss paul] 26/5/2023 20:43

Wow this is a quiet board. I thought it would be full of content

[philbentley] 08/3/2023 10:51

Yes Longwell because if new blood comes and see his manager is morally bankrupt cretin and another one is same. Every company have them. Closed in circles mutual admiration society. Any new blood will be defeated.

[pundit1] 01/3/2023 11:23

In the majority of instances the bottom can influence but the top make decisions, set direction, put in place processes and policies, set goals and objectives, and decide how to make efficiencies. Acquisitions inflate TO as do RPI indices and the like in inflationary times. Commercial organisations will be or should be looking to seek efficiencies and cost savings in order to improve the bottom line, that is perhaps unless you are in the Energy sector.

[longwell] 01/3/2023 10:23

They have a lot of middle managers, not needed and very high entry level turnover that costs thousands and thousands in training costs every year.New blood is needed to clear out inherent issues and bring the company into today's society. Yes this is from a perspective inside the company. Could be great but not until its revamped from the bottom up.

[philbentley] 29/1/2023 00:19

Pundit1 absolutely. 100% right you are
revenue is only bumped by contracted inflation and the market read this correctly.
There are no improvements. The only way to go is P45 for some cunning lazy regional managers etc. Sort of blokes who brag about company cars instead of doing the job.

[pundit1] 26/1/2023 21:36

As I said before it’s not about revenue and TO. Update not good and a lot of waffle. Why don’t we hear about business improvements, efficiencies and cost savings. Lots of senior and middle management exits will improve the bottom line.

[casholaa] 25/1/2023 16:05

Trading update tomorrow & divi 1st Feb. GLA & DYOR etc.

[queenbreguet] 17/11/2022 08:13

Good set of results, increase in Div and future profit forecast. Time to buy

[casholaa] 10/11/2022 22:50

Less shares now too.

[longwell] 10/11/2022 15:41

Steady climb to back over a pound by full year results 2023.

[ppreston1] 19/10/2022 12:59

Looks like buyers are gradually returning. H1 results on 17th November.

[casholaa] 07/10/2022 17:04

Happens to all of us, one website 'say's' but another doesn't.

[drk1] 06/10/2022 08:34

Trading update tomorrow. Edit 7th - maybe not!!

[ppreston1] 03/10/2022 09:49

Are we expecting a trading update this week? Seems to have lost some of the recent momentum. Hopefully should get us back on track if the positive trading highlighted in the Q1 update has continued.

[philbentley] 03/8/2022 07:58

Friday a big day. How many will reinvest how many will invest somewhere else or consume. Let say pessimistic scenario 50% reinvest.

[philbentley] 26/7/2022 17:48

Yes I wanted exact this flavour at least for some time. Pundit that saving is mysterious one and not enough jingle for longer run. They should cut some managerial positions and send them off to Sril Lanka call centres.