Mitie Share Discussion Threads

[fidra] 26/11/2021 11:41

Strange Miiie have done well out of covid contracts.So new variant pulls the price down.
Good reversal yesterday as well.

I think management have now turned this ship around.It appears a lot better run now.

[philbentley] 24/11/2021 11:10

Peppa Pig and Kermit will be buying big time.

[farrugia] 23/11/2021 16:28

I did buy a bit more yes

[queenbreguet] 23/11/2021 16:22

Hope everyone topped up on the recent dip. ??

[philbentley] 23/11/2021 10:40

Errata.
Silchester International Investors LLP was pouring 0.81% on Friday with not enough supply to protect the level we were on. So close to divi to hold but somebody had a different idea.

[philbentley] 20/11/2021 00:54

Hi
Covid, non covid it is win-win for Mitie.
The reason can be very prosaic why the price is lower than expected. Somebody was playing for results. They usually borrow money to leverage short-term 3 days. Money has to be returned no matter what. Volume wasn't very high so not many shares were exchanged at a lower price. It is a bargain now. They have to sell and return the amount.
This not always works and this is why life is fantastic with nonlinear ends.
Amicus rightly added 15k bcoz will have 600 in February for future shopping.

[essentialinvestor] 19/11/2021 18:59

Market questioning the big reduction in net cash?

[farrugia] 19/11/2021 16:24

there is definitely supply at 64.70 - i just bought another 15,000 shares without problems.

ironically i think even if there's another covid wave Mitie will likely benefit...

[salpara111] 19/11/2021 09:13

Rather disappointing reaction to what appears to be a solid set of results.
like most I guess I expected a move back towards 80 rather than a turn back towards 60 again!

[philbentley] 18/11/2021 13:08

I like that is low. If you think about reinvesting dividend in February. Snowball effect will come in next few years with higher impact.

[longwell] 18/11/2021 11:57

Two of my kids work for mitie. Lots of overtime and bonuses as they are very busy. Good long term prospects as long as they do not over reach.

[drk1] 18/11/2021 11:42

Some will undoubtedly have bought into the results and exited today with profits. It cannot be long now before we test new 18 month highs (78p from memory) as the company is in a far better place today than it was at the onset of the pandemic. Happy to hold! ;-)

[philbentley] 18/11/2021 09:50

They sit on Synairgen and dream about pears on apples tree. Company who cannot make things happen. Instead Mitie solid change and long term perspectives.

[salpara111] 18/11/2021 09:06

Pretty muted reaction to what appears to be a very good set of results.
If I wasn't already slightly overweight I would be adding.

[hamhamham1] 18/11/2021 08:45

Nice results

[hamhamham1] 18/11/2021 08:44

Highlights

Revenue including share of joint ventures and associates1 of £1,912m, up 103% (H1 FY21: £943m); boosted by inclusion of Interserve Facilities Management (Interserve) revenue of £629m, and £259m from short-term COVID-related contracts

Mitie standalone revenue (excluding Interserve) up 36%, and underlying revenue back at pre-COVID levels

Operating profit before other items1,2 of £85.0m, up 367% (H1 FY21: £18.2m), as the strong revenue growth translated into higher margin profit

Operating profit1 of £60.0m (H1 FY21: £6.6m), reflecting the stronger performance this period, partially offset by the increased investments in Project Forté and Interserve within 'Other Items'2

Interserve performing well, with integration largely complete; £12.1m cost and revenue synergies achieved in H1 FY22

New contract wins, renewals, and projects in H1 FY22 of approximately £1.8bn total contract value (H1 FY21: £500m)

Improved free cash flow3 of £86m due to increased profitability (H1 FY21: £78m, including benefit from HMRC Time To Pay scheme)

Acquisition of DAEL Ventures UK in August and Rock Power Connections and Esoteric in November

New Revolving Credit Facility (£150m) in place and forward starting USPP (£120m) terms agreed

Interim dividend of 0.4p/share reinstated as underlying Group performance returns to pre-COVID levels

[philbentley] 18/11/2021 08:30

Great divi. Depends how much shares you have it.
Let the Yankees to wake up.

[philbentley] 18/11/2021 08:29

Great divi.
Let the Yankees to wake up. They will be happy too.

[drk1] 18/11/2021 08:11

Excellent progress all round - must see 80p+ soon!

[longwell] 18/11/2021 07:55

Great results. Dividend recommenced good news. Hopefully significantly higher next year.

[farrugia] 18/11/2021 07:55

nice update

[philbentley] 15/11/2021 06:28

Today higher volume than normal session.

[warranty] 14/11/2021 17:22

Results next week so let’s hope we can get the share price chart moving up again.

[philbentley] 11/11/2021 23:40

Painful consolidation and soon ride#