Member Article

Bristol building services group record bumper year

Outsourcing building services company MITIE, have announced a strong performance for the year to March 31.

The firm recorded a healthy 25th anniversary year, with strong revenue growth of 5.9% and pre-tax profits rising from £86.8m to £94.5m.

Several high-profile contracts have helped the Bristol Group, including a £775m appointment with Lloyds Banking Group, and repeat growth from existing clients such as Rolls-Royce, Vodafone and Diageo.

Elsewhere, key contracts with the Ministry of Justice have provided the company with a £1bn pipeline across prisons management, electronic monitoring and probation trusts, among others.

In the health sector, the group sees a growing range of opportunities in upgrading of ageing infrastructure.

For Camden Council, MITIE developed an innovative energy scheme to supply up to £1,500 council tenants with surplus heat from an energy plant at the Royal Free Hospital in Hampstead.

Ruby McGregor-Smith CBE, Chief Executive of MITIE Group PLC, commented: “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.

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

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

Energy services account for 34% of the group’s revenue, and this may rise further as demand grows across the public and private sectors for energy and carbon strategies, spurred by macroeconomic, environmental and legislative factors.

This was posted in Bdaily's Members' News section by Tom Keighley .