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/

Stop moved to 224.0 to lock in profits in case bounces off 200DMA or market rebound.

Below 200DMA stop to 220.0

Stopped out + 9.0 Left Limit Sell @ 215 in case this strength in futures is a dead cat. Even if triggered will close prior to close today. Final divi due week today.

Limit Sell triggered this morning @ 215.0, stop to entry for risk free trade. Tgt 201.0

Wee punt long this time @ 204.9 tight stop

And out @ 210.1 +5.2

Back in Long @ 209.0 Interim Monday.

And out (fornow) @ 215.4 + 6.4

Would have been more positive if Fridays close had finished above 200DMA, if that had been the case would probably have left long open. Waiting now to see how the market reacts to Interim results Monday. Obviously I am hoping that results will be good enough to push sp back up to test 52 week high but, that is probably wishful thinking, though probably anything could happen in current market.

Leaving options open - Limit Buy (spread bet ) @ 223.0
Limit Sell (" " " " " " " ) @ 211.0
Will place stops and targets if or when either trade triggered.

Technicals from iii 12/08 Short term bearish = 2-6 weeks, support 200.0, resistance 231.90
Slow stochastic short term bearish 12/08 217.30
MACD Intermediate term bearish 12/08 217.30
Price crosses 200 DMA 10/08 214.20
Long term bearish.

Comments - iii 12/08 analysts expect the group to deliver a solid report which should see yet another year of rising profits.

Motley Fool 12/08 Under Heading Cyclical Bargains :-
Mitie Group (MTO) offering services in facilities, property and assett management. A strong set of results is again expected, we should be seing the sixth year of rising profits and dividends in a row. Recession, what Recession? That's pretty good going for a company with some of its fingers in cyclical pies. This time there is a little more debt, but there's more than twice covered dividend of 4.5% forecast. By heck, we used to dream of well covered 4.5% dividend yields.

Interactive Investor 12/08
Mitie Group (MTO) presents its interim results to investors after quite a ride which has seen its shares shoot back and forth. However analysts expect the group to deliver a solid report which should see yet another year of rising profits.

Limit Buy triggered @ 225.0 Stop 216.0

Stopped out - 9.0. Now short again. Goldman Sachs downgrade today to neutral from Buy. Good support @ 210.0 but wouldn't be surprised to see lower in this market, brilliant trading stock despite for the last six years increasing profit and divis remains stuck in a trading range.

Closed short @ 207.0 +8.0 opened spread bet long Dec contract @205.2

Stop to entry.

Stop to 215.2 to lock in + 10

Tested 230.0 can it crack it.....?

Yup, stop to 220.0

Going for 240.0 now, but this is where it gets dodgy, got every faith cause under valued. Stop to 230.0

Closed half (Dec contract) @ 235.2 + 30
Leaving other half to run, moved stop to 225.0

Stopped out of remainder long (Dec Contract) shock horror for +19.8
Short again (rude not to be) @ 230.0 (rolling), tight stop. Half yearly financial report due 21/11

Stop to entry.