Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group Plc LSE:LLOY London Ordinary Share GB0008706128 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.54p -0.99% 54.09p 54.09p 54.11p 54.68p 53.99p 54.13p 47,469,483 10:49:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 22,091.0 5,960.0 5.5 9.8 37,933

Mitie Group Extends Lloyds Contract

12/09/2019 8:07am

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By Adria Calatayud

 

Mitie Group PLC (MTO.LN) said Thursday that it has extended a facilities-management contract with Lloyds Banking Group PLC (LLOY.LN) which is expected to generate 170 million pounds ($209.8 million) a year through to 2024.

The U.K. outsourcing company said the extension of this contract with its largest customer had been factored into guidance on revenue growth and operating profit provided in its latest results.

The extension covers 30 service lines which will continue to be delivered across Lloyds's nationwide branch network and office estate, Mitie said. Payments received by Mitie will be determined by the outcomes delivered, rather than by the traditional input-based service model, the company said.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

September 12, 2019 02:52 ET (06:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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