From the Blue Index blog

All-MITIE

May 18th, 2009

Further evidence emerged today of how companies are outsourcing to save money. Building services group MITIE Group (MTO) reported a 12 percent hike in annual pre-tax profits to GBP75.9m, on revenues ahead 8.2 percent to GBP1.5bn. Additionally, MITIEs forward order book increased to GBP4.9bn from GBP4.4bn last time, and the group are benefiting from a sustained level of outsourcing as contracts become larger and longer term. Looking forward, the company also said it is extremely well positioned for acquisitions and buying up companies which fit the existing business.

Analysts are very positive over the results, remarking the results are strong, with high visibility and positive outlook resulting from MITIE clients increasing outsourcing to improve efficiency and to cut costs.

If like me you have tracked the share price performance of companies providing outsourcing during the downturn, such as Compass Group (CPG) and Capita (CPI), youll find that almost without exception, these companies are very positive in outlook, with clear revenue visibilities.

Full transcript here
http://blog.blueindex.co.uk/2009/05/all-mitie/

No probs.

Hopefully after profit takers moved in yesterday on Wednesday spike, moving up nicely.

Looks good.

HSBC cuts to underweight from neutral. Target raised from 260p to 275p? Go figure.

Chris stop swearing. Toffee nose.

:O) should be an easy 3 points this weekend for the chosen one mate. Are you gracing Old Trafford with your presence? Hope you don't choke on your prawn sarnie. :O)

LOL LOL LOL. Roy Keane at is best.

No im not going , got a mate whos lost his dad. Im wafering the seat.

We still have 2 years on a 7 year contract left for the corporate box, 7 of us joined . free ale and a free buffy put on.

If we dont get a big star we wont renew come 2017 season.

cheers bud.

gf - "If we dont get a big star we wont renew come 2017 season"

LOL - That's terrible, just about sums up the majority of all 'glory hunters' at your club, what happened to loyalty? Or 'Red till I die' :O)

Added @ 312.4 on spreads.

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Half-Yearly report Monday 18th November.

Mitie Group booked an H1 pretax profit of £55.3m, up 9.5%, on a 10.5% rise in revenue to £1.044b. It proposed an interim dividend of 4.9p a share, up 6.5%.

"The first half of the year has seen strong operational and financial performance for MITIE. We continue to identify new opportunities with both existing and new clients in all of our key markets," said CEO Ruby McGregor-Smith in a statement.

"The successful re-positioning of the business means we are in a stronger and better position than ever to deliver higher growth and maintain strong margins. We look ahead with confidence," Smith said.

Investec reiterates buy on MITIE Group, target raised from 310p to 330p.

Added @ 315.0

Having a go @ 320.0 albeit on low volume.

04th Feb 2014 half yearly divi payment date. 19th May preliminary statement of annual results.

Stop raised to 320.0 to lock in + 30

Stop to 325.0 to lock in + 35.

330.0 breached, all time high albeit on low volume.

Out the spreads (for now) target 330.0 + 40

Sp bang on 25DMA support 320.0p. Interim next Monday. Obvious profit taking on market downturn. Watching, may be worth a punt long.