Mitie warns on revenues as projects are cancelled
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The FTSE 250 company said revenues fell short in the second half of its financial year as economic uncertainty led to some projects being delayed and others taken off the table altogether. It said: “Due to current macroeconomic factors, we anticipate modest growth in the next financial year.” The group added: “We have a substantial order book and sales pipeline. Christopher Bamberry, an analyst at Peel Hunt, said Mitie was reacting to increasing employment costs by investing in technology to drive efficiency – which “reduces revenues but sustains profitability”.
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