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/

Does anyone know why the big drop on these

Good spike on these today. Finally breached 200, can it hold? Had a wee punt @ 199 Tgt 120 stop 195.

For a beaten up sector this one seems to be on a mission. Stop moved to 210.4, halfway to target to lock in a good profit before it goes tits up. Interim results 22/11.

Having retraced back down to 200, got back in long on 2nd (SB) @ 201.6, target 120 stop moved to entry today.

And Out 240.0, may regret it but easy enough to get back in. In the meantime Limit sell(SB) left @ 234 initial target 220 stop 242.0

Limit Buy (SB) triggered @ 243.0 Tgt 260.0 Stop 233.0 Trading Statement 28/01

Closed long (for now) SB @ 238.2 - 4.

CC
well done. stand back. (for now)
be patiient. just my opinion.
regards to you
jkd

jkd - Thanks! And regards to you to.

50DMA starting to move up closer to sp. Watching closely.

Long @ 231.5 (SB) Tgt 250.0 tight stop.

Stop to entry for risk free trade.

Got a lousy write up from Shares last week, Divi payout today, down again bang on 200DMA. Can it bounce from here, or is there still some downside to come? I haven't got a scooby doo. Watching closely, thinking about ptholden's comments (posted on CHART ATTACK thread) regarding sp movement after a golden cross where the sp retreats back to MA's before resuming uptrend be interesting to watch. See what happens, no position yet. I will take your advice this time jkd and be patient.

Don't bet the house on it Chris, although significant divergence on the MACD v SP, so looking oversold, but that can change if it continues to fall. With regard to the GC gravitating towards the 200MA the same thing happened in 2009 before going on a run.

Ok, thanks ptholden, no position yet as stated, bang in the middle could go either way, cheers.

Completely forgot about these and missed the rise. Wee punt Limit sell (SB) triggered @ 229.5 Tgt 210.0 stop tight.

Stop to entry for risk free trade.

Full year results due on Wednesday. Highlighted as a possible short on goldfingers 'kipper system' see Chart Attack thread. DYOR

Still watching with interest, held up remarkably well. 12/08 final divi payment followed 3 days later with interim management statement. Left a Limit Buy (spread bet) @ 244.0, initial target 260.0 tight stop. Still have a Limit Sell (rapidly gathering dust now) @ 229.0 initial target 215.0.