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/

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.

Looks like a short

Go for it chuckles.

Mostly a tongue in cheek comment, but it's at its all time high and it will be interesting to see if it gets through. I think it will retrace first but it's such a slow mover it's not worth trading unless you're betting at least £100 per point and there are much better quicker returns elsewhere for £30k of shares.

chuckles - Fair comment, usually I only trade stocks that I own (up and down) horses for courses. Quite happy with the profits to date and suits my style of trading exactly for the reasons you have stated, ie no need to screen watch. I play a lot of golf in the summer, still work 3 nights per week, this is just one of the stocks that fills that criteria for me. I use Cap Spreads (quarterly contracts) for spread betting who currently offer on this stock to trade £1 - £145 per point. Of course on the days of the week that I am not working or playing golf, I am able to day trade UKX and Dow as well as more volatile stocks, usually more so in the winter months.

Taken profits @ 298.0 + 6. Buy order left on the spreads @ 302.0

Back in long on the spreads @ 289.7

Stop to entry for risk free trade.

MITIE, the outsourcing and energy services company, has secured a contract to provide integrated facilities management (FM) for British Sky Broadcasting Group...



... the UK's largest entertainment and home communications company.

The contract, with a total value in excess of £100m over a five-year period, will see MITIE deliver services across Sky's estate in the UK and Ireland, beginning in January. 2013. As well as its two main campuses in London and Scotland, it will work at 12 regional offices, two data centres and dozens of POP sites (internet exchange points).

MITIE will have responsibility for delivering a range of services including fabric maintenance, engineering maintenance, energy management, catering, security, cleaning, mail room and couriers, helpdesk, switchboard, shuttle buses, grounds maintenance and internal landscaping.

The company also recently completed a project to build an on-site wind turbine at Sky's new broadcast facility, Sky Studios, in Osterley, West London. The most sustainable broadcast facility of its type in Europe, the turbine will provide over 133 MWh per annum of clean energy to the studios.

Ruby McGregor-Smith, Chief Executive of MITIE Group, said: "We are delighted to be working with Sky and look forward to creating what will be a truly collaborative partnership.

"Sky is a dynamic company and MITIE will ensure the FM strategy brings the highest quality services, value and innovation to its business."

Story provided by StockMarketWire.com

Finally broken through 300.0 resistance, if it can hold above till the close, looking good to run up to half yearly financial report on 19th.