Mitie Share Discussion Threads

[thorpematt] 18/11/2013 21:24

Good look through results and all looks very tidy to me.

The market's complaint regarding Enara being overpaid for was indeed of no validity it would seem. I recall being bemused at the time since i thought it a smart move. With the margins looking very strong and the opportunities for expansion and cross selling I am strongly in favour. Ageing population gives a nice tail-wind too (I am favour of these also).

Clearly the energy services are somewhat negative. I haven't been a fan of these since Cameron/Osbourne binned £300m (from memory) in their first budget cuts. Does anyone remember the pre-election Dave when he used to ride his bike everywhere and claim to be Mr.Green? Oh how things have changed. Funny what a global financial melt-down does for green government policy! No tail-wind there I'm afraid. Still, a small segment for MTO so not too problematic.

I sense the IIs might need to look at this again - i think they got it a tad wrong. Start at Bank of America Merrill Lynch Business Services Conference tomorrow.

The successful re-positioning of the business means we are in a stronger and better position than ever to deliver higher growth and maintain strong margins. We look ahead with confidence.


All in all better than I was expecting - good job.

Chart looks VERY bullish BTW. I have fair value at 388p FWIW. I think we may see £4. I doubt I'll sell it even there.

[melody9999] 17/11/2013 19:06

always the way Maz - been there so often myself. You could consider buying back if it makes new highs again though - might be a nice little play in the run up to Xmas.

[thorpematt] 17/11/2013 09:45

webcast for tomorrow, 9:30am, don't be late!


hxxp://live.webcasts.unique-media.tv/mit005

[mazarin] 16/11/2013 09:20

You could well be right and my decision yesterday is now bound 'to make it happen.

[melody9999] 15/11/2013 23:44

Thanks for doing that then Maz ! IMV this is absolutely not the time to sell. We have just broken 300p clearly after a number of attempts. At that point I added a s/bet to my SIPP and ISA holdings. MTO has a solid management and good 3%+ dividend that I keep collecting.

The share price looks ready to break out again and looking for a target at the top of the channel of around 370p before I consider selling.

[mazarin] 15/11/2013 22:02

I finally decided to sell out today having held MTO since June 2012, so if my previous experience is anything to go by, things should now start to pick up for all you remaining holders...! I have to say it hasn't been the most exciting experience, that at times has proved very frustrating. So Good luck to those still holding. I'm moving off to add another sector to my ISA on the back of today's modest rise in the hope it will be more rewarding.

[hazelton] 27/10/2013 06:23

I broadly agree with that. Its worth noting that pre 2000 it must have been quite a small share and it growth would have been unrealistic to expect to continue into a ftse250 company. Outperformance since 2000 has been pleasant. I am a holder too smarting that I did not top up at 250 recently.

[thorpematt] 26/10/2013 20:57

OK so 300p has been breached significantly so I thought a little look at the bigger picture was worthy.

I've overlayed the FTSE 100 to give some perspective and as you'll see MTO has out-performed it rather.

Boring old Mitie it turns out is not so boring.

Anyhoo by my reckoning it has a tendency to play within a wide trend. currently we appear to be in a bullish phase within that trend - so 380p may well be on the cards.

MTO: Not one for selling, one for holding IMO.

[melody9999] 23/10/2013 00:19

we are on our way .... I think! Cleared out a few sellers around 300p

[hyden] 18/10/2013 18:03

That's better. :-)

[mazarin] 18/10/2013 11:29

I share your disappointment but MTO does seem to exaggerate FTSE falls, albeit was one of yesterday's biggest fallers. There's clearly something driving latest upward movement, so hopefully MTO will resume its northwards track and stay above £3, we've waited long enough...!
What we need is some real positive news, .....Oops its going up as I type!

[melody9999] 17/10/2013 20:07

Oh dear - what a disappointing day. I'd have preferred to see it stay above 300p, but note recent resistance at 295p that should act as support

[melody9999] 17/10/2013 07:57

Hi TM - yep thats exactly how I see it too. And I've been here for months in my SIPP / ISA too. its a nice solid hold with good divis to underpin some of my more speculative investments. But 300p has been a barrier for some time so we might see a more rapid ascent now.

[thorpematt] 16/10/2013 21:32

I don't post here often since mostly it's a one way conversation. But things are a little lively of late.

Melody9999, I have posted a little picture (my interpretation) of what I believe you are targeting chat-wise:-




Certainly 300p was clear resistance and a swift move to 370 seems possible. I have also detaild the 180day MA since I have observed it to be a key indicator historically for both resistance and support. We've moved back above and it's just turned up so I see a positive there.

BTW I am actually here for the fundamentals - have been for a while, sits well in an "investors" portfolio IMO.

[kickingking] 16/10/2013 21:19

I Did tell you guys that a major contract win will be announced. It is due to start 1st November 13. A £200m contract over 10 years.

[hyden] 16/10/2013 20:23

Yes, I agree today's decisive breakout bodes well. If I can be choosy then I would have preferred volumes to be what they were in May this year. Maybe tomorrow?

Edit: All time high as well. :-)

[melody9999] 16/10/2013 20:02

As MTO finally and decisively breaks 300p on good volume, I wondered if anyone else would post .... and as not I thought I would break the silence.

After all back in Dec 07 MTO touched 285p. From May 2012 to date its been in the 290s 4 or 5 times only to retrace. But never as high as 310p.

So this is the real deal! According I have opened a large (for me) sbet at 305p and added to my long positions. When you wait this long,best not to miss the boat!

First target is 365p, which, on a long term chart is the top of the resistance trend line. Stop at 300p.

All IMHO, DYOR

Later note... Hi Hyden - good there are a couple of us then!

[hyden] 16/10/2013 19:45

Superb rise today. Very pleased. :-)

[kickingking] 09/10/2013 23:14

Big London Council contract win, will be announced within days.

[alter ego] 11/9/2013 11:16

could just be more benign conditions/ optimism for the economy generally

[mazarin] 11/9/2013 09:28

I haven't seen such strong movement with MTO for a long time, having just touched £3.00 this morning. There appears to be no news underlying it, so what's the cause?

I've recently been wondering lately whether or not MITIE may be the long term beneficiary of any 'fallout' resulting from Serco's much publicised 'fall from grace' in contracts following a recent Government enquiry into their financial & business practices?

[dr_smith] 17/8/2013 09:15

Thorpematt - Yes I totaly agree.
I haven't read pdf in question but when co's do this I interpret the vague link as:
'We are legally obliged to show results but we are ashamed of them, so we'll try and hide them'.

It may not be bad report - but that's the message it gives the public/shareholders when you have to search trying to find something that may or may not be there.. somewhere.

[mazarin] 13/8/2013 18:14

Hope so, just wondered if today's lift was due to 'buy back scheme'. Though never one to knock any rise in share price that is long overdue IMO. I remain a holder, but currently doing so is now drawing upon my patience. Bit like watching paint dry....!

[hyden] 13/8/2013 18:05

I noticed it, and I quite liked it. Surprised about the drop to be honest but I see we have recovered today. :-) 295p short term and then 300p come autumn?

[mazarin] 13/8/2013 18:00

Does anyone have suggestions as to why trading statement appears to have been so notably dismissed by the market? Would be it be that it lacked substance...?