“This has been a ‘transformational’ 25th year for MITIE,” explained group CEO Ruby McGregor-SmithCBE. “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.”
The multiple award-winning McGregor-Smith went on to state: “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.”
In conclusion, the CEO stated: “Financially robust, we have a clear strategy for the development of our business which is supported by a buoyant sales pipeline and an order book that stands at record levels. We’re confident that the exceptional track record of sustainable, profitable growth we’ve achieved for 25 years will continue.”
Excellent financial performance
Delivering on strategy with a series of transformational contract awards
Tremendous prospects for growth demonstrated by record order book and buoyant sales pipeline
Comprehensive energy services offering is a key differentiator
1Operating profit before other items in the year ended 31 March 2011 included non-recurring income of GB pound 4.1 million arising from an amendment to the past service cost of certain defined benefit pension schemes following the change from RPI to CPI for the valuation of certain pension scheme liabilities.
Operating profit before other items, margin and related growth statistics stated above exclude the GB pound 4.1 million from the prior year result in order to reflect the underlying operational performance of the group
2Other items comprised the amortisation of acquisition related intangible assets of GB pound 9.1 million (2011: GB pound 8.9 million) and other acquisition related and restructuring items of GB pound 0.9 million (2011: GB pound 9.9 million) incurred during the year
MITIE signs ‘groundbreaking’ contract to provide integrated facilities management for Lloyds Banking Group
MITIE Group plc recently agreed a “transformational partnership” to deliver facilities management services for Lloyds Banking Group.
The contract, signed for a five-year term, has a possible one-year extension period and has an expected value of approximately GB pound 155 million per annum.
MITIE will be providing a complete range of facilities management services across the bank’s entire UK branch and office estate. Services to be delivered include catering, reception, engineering maintenance, cleaning, security, waste management, minor capital reactive works, office space management and a range of other services.
MITIE will also manage utilities expenditure under the contract along with a comprehensive energy management and carbon emissions reduction plan.
Commenting on the deal, Ruby McGregor-Smith CBE said: “This partnership will deliver a new style of facilities outsourcing in the UK. It will be one of the biggest private sector facilities management contracts of its type and is a great example of two organisations working collaboratively. We’re very excited to be building on our long-term relationship with Lloyds Banking Group and to be providing them with world-class outsourced and energy services in the coming years. We welcome the new team to MITIE.”
