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/

Initial target hit this am 270.0, tempted to take profits but greed wins again sticking in for 280.0. Stop moved to 264.0 to lock in a profit.

Took the opportunity to top up on these yesterday and will continue to do so on any dips below 260.0.

Opened a short on the spreads (hedge) @ 270.0 initial target 260.0 stop 275.0. Volume is crap, breaching 270.0 failed numerous times.

On a mission :O)

RNS 2594Z - Mitie appointed as preferred bidder in Lloys banking group tender.


Under the tender, the chosen supplier will provide Lloyds banking group with a complete range of facilities management services accross the Banks entire UK branch and office estate.

If closes above 290.0 today 300.0 next target. Overbought on RSI may pull back so will then be looking for a new trading range between 270.0 and 290 certainly on a mission at mo.

Long on the spreads @ 285.0 back above 50 DMA, target 300.0 tight stop, ex-divi 20/06.

Added today on the spreads @ 270.0, ex-divi yesterday. Although volume is weak has so far maintained trading range of between 270.0 - 290.0,are still winning contracts and fundamentals haven't changed. September contracts on the spreads, initial target still 300.0 stop 248.0.

Been up and down for the last month on poor volume, big improvement volume wise today though, back up above 200DMA and back in trading range, can it hold? Patience required.

Interim next Monday 13th August, twitchy botty time so close to 12 month highs, yet has held up remarkably well. So what to do? the old adage is run a winning trade which is great in theory unless like me your initial buy was damn close to 12 month high, averaging down apparently is never a good idea, i did at @ 270.0 as can be seen above. However you can also whip yourself had 2 opportunities to add at 260.0, hey ho as they say or who dares wins etc. So moved my stop to 270.0 on the spreads target still 300.0. Had the divi,own some stock for long term from 210.0 lets see how it plays out, ideally spread bet wise I'm looking to place stop at 285.0 and relax for the rest of the summer and then perhaps place a cheeky short on the spreads if required, I can dream it's allowed. :O)

Target is 300.0 and I have a Limit in place to trigger it. As can be seen by last candle spiked to 295.0, then retraced to closing price 284.6 have to watch this carefully tomorrow.

That's weird doesn't show it now, it did prior to midnight oops.

Interim Management Statement

Trading update

MITIE has made a good start to the year. With the successful commencement of our new contract with Lloyds Banking Group, we are well placed to achieve good levels of organic growth in the current financial year, in line with management's expectations. At 30 June 2012, 87% (30 June 2011: 85%) of budgeted revenues for this financial year had already been secured.

Thanks skinny

Moved stop back to 248.0 if 270.0 goes may get another chance to add @ 260.0 but guessing this is just profit taking on a down day.

Stop to 285.0 to lock in +15

Buy order left on the spreads @292.0 Dec contract, if triggered hopefully make another assault on 300.0. Half yearly Financial report due 19th November.

Barclays Capital initiates overweight on MITIE target price 345p

Stop to entry for risk free trade.

Fingers crossed for more volume next week to finally breach 300.0 and breakout up and away.