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/

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.

Took a chance on these on Friday and added @ 295.0 and towards the close @ 290.0, moved my stop right down, both positions taken on the spreads March quarterly contracts on the spreads. Interim results tomorrow (gulp) and may God have mercy on my soul :O).

Obviously I'm hoping for good results. 50DMA breached on friday, not good for the nerves hence quarterly contracts in the event of profit takers doing theire worst.

Ouch!

Ouch! is right halifax, interim wasn't stunning but not that bad either. May take longer than March to recover but sticking with it. Same as VOD has rallied in Dec for last 5 years.

Added to March contract @ 269.0

Solid support @ 260.0 indicators improving, volume required.

MITIE secures £30 million maintenance contract
StockMarketWire.com
MITIE, the FTSE 250 strategic outsourcing company, has been awarded a £30m contract with Hammersmith & Fulham Council.

MITIE's painting business will deliver a borough-wide cyclical planned maintenance programme in a contract valued at £10m per annum for three years.

The works, commencing in March 2013, comprise of external and communal decorative repairs and redecorations for over 7,500 homes.

The contract includes maintenance of the external fabric and fixtures of the buildings, such as windows, doors, roofs, walkways, external walls and cladding. Works to communal areas also include the testing and repair or replacement of electrical installations.

Residents will benefit from a well-maintained and refreshed environment in which to live, work and play.

MITIE will invest in the community, working with the Council to create local employment opportunities, including hiring up to 10 apprentices and two resident liaison officers.

MITIE's Real Apprentice scheme will also be utilised to help long term unemployed residents back into the workforce.

Ruby McGregor-Smith CBE, Chief Executive of MITIE Group PLC, said: "We are delighted to be working in partnership with Hammersmith & Fulham Council to deliver repairs, painting and redecoration across 7,500 homes in the area.

"We are committed to providing the highest quality of service to the Council and its residents."

At 10:10am: (LON:MTO) MITIE Group share price was +2.75p at 274.15p


Story provided by StockMarketWire

Interim Management Statement

Trading update

MITIE has made good progress over recent months with strong organic growth being driven by new and expanded contracts. The group is performing in line with management's expectations. At 30 September 2012, 98% of budgeted revenues for the current financial year had already been secured (30 September 2011: 97%).

We continue to expect total revenue growth to be higher in the second half than seen in the first half as a result of both the organic revenue contribution, including Lloyds Banking Group, and our healthcare acquisition, Enara Group.

Acquisition of Enara and the public sector

In the public sector, we remain focused on the healthcare, justice, local authority and social housing markets. We have seen a steady flow of opportunities across all our service lines.

In healthcare, we purchased Enara for £110.8m on 9 October 2012. Enara provides high quality home care to people who require help and support due to illness, disability or infirmity and is the fourth largest provider of home care services in the UK. We are pleased with the way the integration of Enara is progressing and see significant long-term opportunities in the UK healthcare market. We are already experiencing client demand for more integrated homecare services.

We continue to expect Enara's revenue and operating profit before other items for the full year ending 31 March 2013 to be £93m and £10.1m, respectively.
In the healthcare market we have also been awarded a £3m waste management contract with Kings Health Partners and have retained a £4.7m cleaning and environmental services contract with East Hull Primary Care Trust.

In the justice market there has been a shift in the prison outsourcing strategy. We expect to see opportunities for the outsourcing of the facilities management of prisons in 2013.

Within the local authority market, our painting business has been awarded a £30m repair and maintenance contract with the London Borough of Hammersmith & Fulham.
In social housing we have secured a £4m redecoration contract with Norwich City Council.

Private sector

The private sector continues to provide significant opportunities. Our five-year, £775m partnership to deliver integrated facilities management services for Lloyds Banking Group is progressing very well.

We have been awarded a contract to provide integrated FM services for British Sky Broadcasting Group (Sky). This contract is valued in excess of £100m over five years. The services we are providing include building fabric maintenance, engineering maintenance, energy management, catering, security, cleaning, mail room and couriers, helpdesk, switchboard, shuttle buses, grounds maintenance and internal landscaping.

We have been appointed by A2Dominion in a partnership to deliver reactive maintenance for 18,000 properties in Staines, Solent Area, Oxford and Kent. The 10-year agreement, starting in April 2013, has a total value of £94m and an option to extend for a further five years.

In the banking sector, we have been awarded a cleaning and environmental services contract with a value of £10m over three years, and we have retained a security contract with a value of £11m over three years. We have also been awarded a £4m technical facilities management contract with the DX Group and secured a £5m contract to supply a new Sentinel ID and competency management system on behalf of Network Rail.

Divestment strategy

Over the last five years we have seen fundamental changes in our sectors which in some cases we believe are structural. Whilst we see significant opportunities in many areas - for example, within energy and integrated facilities management as well as healthcare - we believe some other areas will continue to be challenged. Going forward, we will actively seek to divest of cyclical businesses which are unable to reach our margin targets in the long term.

As we referred to in our interim results on 19 November 2012, we are continuing to reduce our activities in our cyclical mechanical & electrical engineering contracting businesses in certain regions of the UK that deliver large one-off projects.

Financial position

On 13 December 2012 MITIE successfully completed an issue of US private placement loan notes with institutional investors for a value of £151.6m. The loan note issue was well supported by the market and notes were issued to a range of existing and new investors. The notes were priced at highly competitive rates, with the blended average cost of the loan notes at 4.01%. The proceeds were used to repay bridging facilities that were put in place for the acquisition of Enara Group.

The US private placement consists of £25m of notes denominated in sterling and fixed at 3.87% maturing in 10 years, £30m of notes denominated in sterling and fixed at 4.04% maturing in 12 years and $153m of notes denominated in US dollars (£96.5m) and fixed at 3.85% maturing in 10 years. The US dollar denominated private placement proceeds were swapped into sterling debt

Our balance sheet remains strong and will enable us to invest in organic growth and take advantage of value creating opportunities as they arise.

Outlook

The financial year is progressing well. Our core facilities management businesses are performing exceptionally well and they are expanding their order books.
Despite on-going weak economic conditions affecting our more cyclical markets and some delays in energy infrastructure projects, we remain very positive about the range of outsourcing opportunities across our key markets. We are confident that we will continue to build on our long track record of sustainable profitable growth.


-ENDS-

Closed 269.0 entry on the spreads @ 288.3 for + 19.3. Hoping rally will last long enough to cover 290.0 and 295 entries for another + 6.7 Stop to 280.0