Mitie Group PLC says full-year profit, revenues to be in line with guidance
The facilities management agency saw “continued improvement” in year-stop web personal debt, which was £80mln
Mitie Team PLC () said that operating earnings in advance of other goods and revenues for the year to 31 March will be in line with direction regardless of the coronavirus disaster.
In a investing update, the facilities management agency said there was “continued improvement” in year-stop web personal debt, which was £80mln.
Read through: Mitie withdraws direction as coronavirus outbreak escalates
Common everyday web personal debt for the second fifty percent of the year was £216mln, in opposition to £287mln the year in advance of.
The preliminary final results will be introduced on 25 June as an alternative of four June as initially prepared, next the Money Perform Authority’s suggestions to increase accounts deadlines because of to lockdown restrictions.
“We see Mitie as really exposed to Coronavirus relative to other outsourcers, presented its 70% personal sector publicity,” analysts at Liberum commented in a note.
“We believe that that Mitie had also substantially personal debt likely into the pandemic and will have an even weaker covenant coming out.”
Shares ended up flat at sixty four.8p on Tuesday morning.
