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Mitie celebrates "exceptional progress"

Mitie saw turnover top £2 billion in 2011, with six major clients providing a potential £2.2bn of contracts.

The support services firm saw revenue increase nearly six per cent, from £1.89bn, while pre tax profit rose nearly nine per cent, from £86.8m to £94.5m.

The firm said its integrated approach and energy management capabilities have “resulted in exceptional progress in key bidding areas and will drive further growth with (the) existing client base”.

The Mitie order book is up 26 per cent or £1.8bn to £8.6bn (2011: £6.8bn), while 83 per cent of 2012/13 budgeted revenue secured.

Mitie said existing client relationships are paying dividends, with six clients providing between £1.5bn and £2.2bn of work.

They include a 5-year £775m FM contract for Lloyds Banking Group, along with work for the Cumbrian Collaboration and Diageo in the private sector, which represents 65 per cent of Mitie’s business.

The public sector saw work for Ministry of Justice, Essex County Council and the West Midlands Construction Framework.

It also acquired Utilyx in January 2012, a specialist energy and carbon consultancy which helps businesses manage the impact of energy consumption and rising energy costs.

Chief executive Ruby McGregor-Smith said: “This has been a transformational 25th year for Mitie. We have made excellent progress on all of our key strategic objectives, achieved sector-leading organic growth and been awarded a number of significant contracts that are enhancing our business.

“This success is an endorsement of our long-term strategy to invest in our integrated facilities and energy management capabilities, which will underpin the continued growth of our business.

“As governments and businesses seek cost and energy efficiencies, our track record for service delivery, innovation and efficiency will continue to differentiate us.

“Financially robust, we have a clear strategy for the development of our business, supported by a buoyant sales pipeline and an order book that stands at record levels.

“We are confident that the exceptional track record of sustainable, profitable growth that we have achieved for 25 years will continue.”