Mitie Group is the UK’s 11th biggest construction contractor by turnover. While it sees itself as existing very much in the "outsourcing" world, with its rivals the likes of Serco and Capita, much of the outsourced work it does relates to the management and refurbishment of buildings.

Mitie is publicly listed and is in the FTSE 250 index. Across all divisions, Mitie employs over 50,000 people.

In the year to March 2009, Mitie reported revenues of £1.52bn and a pre-tax profit of £75.9m. The company has net cash of £10.9m and committed banking facilities.

Mitie is split into 3 main divisions:

• Facilities Management (business services, catering, cleaning, facilities management, landscaping, pest control, PFI, security)
• Property Management (building refurbishment, fit-out, roofing and maintenance)
• Asset Management (mechanical and electrical engineering & maintenance, energy generation and management, ICT and infrastructure)

In December it announced it had completed the purchase of Environmental Property Services from Uberior Holdings Limited.

Facilities Management
Revenue of £942.2m was an increase of 14.8 per cent while operating profit (pre amortisation) rose 10.8 per cent to £54.2m. The order book in this division rose to £4.2bn (£3.6bn).

Contracts won over the year include a £65m 25 year contract with Derbyshire County Council as part of its BSF programme, and a 31-year contract to provide facilities management to 3 new PFI schools in Kent, valued at £40m.

In the utilities sector, Mitie has been made the preferred bidder for a contract with
Thames Water Utilities Limited (TWUL). The total value of this contract is expected to be over £100m.

An extension of an existing Cable and Wireless contract following their acquisition of THUS will also yield an extra £20m per year.

Property Management
Revenue of £297.9m was an increase of 4.3 per cent while operating profit (pre amortisation) rose 19.3 per cent to £17.9m. The order book in this division remained flat at £0.5bn.

This division is expected to benefit from the government’s Fiscal Stimulus Package, where £3.0bn of capital spending will be brought forward by one year.

Contracts were signed during the year with Wessex Housing Partnership to provide repair and maintenance work on over 6,500 properties. This contract is valued at £9.2m.

A 5 year, £50m, contract was also signed to provide similar services to Sentinel Housing Association in Hampshire.