Mitie Group Plc (MTO.L) Tuesday said in its trading update for the first quarter of 2026, that its revenue rose 10 percent to 1.28 billion pounds from 1.16 billion pounds in the same period last year.
The company said that revenue benefited from an 8.0 percent organic growth from net contract wins, scope increases, project delivery, and pricing gains. Infill mergers and acquisitions also contributed an additional 2.1 percent in the revenue growth for the three months ended June 30.
The facilities management and professional services company said that the Business Services revenue rose 16.6 percent to 598 million pounds, supported by net wins, scope increases, and project work for clients such as Scottish Power and Google data centres. While the Technical Services delivered a 5.0 percent growth to 466 million pounds, the revenue from Communities revenue increased by 5.3 percent to 218 million pounds, driven by higher project volumes and lifecycle works, it added.
According to Mitie Group, contract wins and renewals amounted to 1.2 billion pounds in total contract value or TCV in the first quarter, down from the 2.0 billion pounds recorded in the year-ago quarter, which included two major public sector contracts worth around 0.5 billion pounds. The Group's bid pipeline was up 22 percent to 29.0 billion pounds from last year's 23.7 billion pounds.
On the earlier announced 350 million pounds recommended cash and share offer for Marlowe Plc, a business-critical services provider in the Testing, Inspection and Certification market, Mitie Group said that the transaction has received support from Marlowe's shareholders, who voted 98% in favour of the Court-sanctioned scheme. The acquisition is expected to be completed by early August.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.