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Mitie reported strong trading momentum, with first-quarter fiscal 2027 revenue rising 10% to £1.4 billion, well ahead of the broader market's roughly 3% growth. Contract wins and renewals also jumped more than 30% to £1.6 billion, while the bidding pipeline hit a record £32.5 billion.
The company is leaning into higher-margin services through "facilities transformation" and "facilities compliance," supported by its Marlowe acquisition. Mitie said the deal is already helping cross-sell fire, security and water services, and it now sees water management as a major growth area.
Mitie's board backed a recommended £3.1 billion cash takeover by OCS, offering shareholders £2.216 per share including the proposed final dividend. The offer represents a significant premium to recent trading prices, and the AGM resolutions were passed on proxy votes.
Mitie Group (LON:MTO) used its 2026 annual general meeting to report continued trading momentum, outline progress from its Marlowe acquisition and confirm details of a recommended cash offer from OCS.
#momentum #Growth #Services #acquisition
Mitie reported strong trading momentum, with first-quarter fiscal 2027 revenue rising 10% to £1.4 billion, well ahead of the broader market's roughly 3% growth. Contract wins and renewals also jumped more than 30% to £1.6 billion, while the bidding pipeline hit a record £32.5 billion.
The company is leaning into higher-margin services through "facilities transformation" and "facilities compliance," supported by its Marlowe acquisition. Mitie said the deal is already helping cross-sell fire, security and water services, and it now sees water management as a major growth area.
Mitie's board backed a recommended £3.1 billion cash takeover by OCS, offering shareholders £2.216 per share including the proposed final dividend. The offer represents a significant premium to recent trading prices, and the AGM resolutions were passed on proxy votes.
Mitie Group (LON:MTO) used its 2026 annual general meeting to report continued trading momentum, outline progress from its Marlowe acquisition and confirm details of a recommended cash offer from OCS.
#momentum #Growth #Services #acquisition
4 months ago
