28 April 2020
Mitie Group plc
LEI number: 213800MTCLTKEHWZMJ03
Mitie Group plc
REVISED FULL YEAR ANNOUNCEMENT AND AGM DATES
Mitie Group plc ("Mitie" or "the Group") (LSE: MTO), the UK's leading facilities management company, makes the following announcement:
In line with the Financial Conduct Authority's announcement of 6 April 2020, in which they extended the period for companies to produce their annual report and accounts because of the COVID-19 restrictions, we now expect to release our preliminary results on 25 June 2020 (rather than 4 June as originally planned). This date has been agreed in consultation with our auditors, BDO LLP. However, our AGM will still take place on 28 July 2020.
We continue to expect our operating profit before other items and revenues for the year ended 31 March 2020 to be in line with the guidance given in our scheduled Trading Update on 30 January 2020, notwithstanding the material downturn in projects and non-essential maintenance spend, which we experienced in March as a consequence of the COVID-19 situation (which we referenced in our COVID-19 related update on 27 March 2020). We have seen a continued improvement in our year-end net debt (excluding the impact of IFRS16) which has further benefited by £33m from HMRC's 'Time to Pay' scheme, resulting in a year end net debt of approximately £80 million. Average daily net debt in H2 FY19/20 was £216 million (excluding the impact of IFRS16) (H2 FY18/19 £287 million (excluding the impact of IFRS16)).
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For further information, contact:
Head of Media Relations
M: +44 (0)790 027 6400
Group IR Director
M: +44 (0)7808 727 500
Chief of Staff and General Counsel
M: +44 (0)776 821 5013
Notes for editors
About Mitie Group
Founded in 1987, Mitie is the UK's leading facilities management and professional services company. It offers a range of services including Technical Services (Engineering Services, Energy, Water and Real Estate Services), Business Services (Security, Cleaning and Office Services) and Specialist Services (Care & Custody, Landscapes and Waste Management).
Mitie employs 48,900 people across the country, looking after a large, diverse, blue-chip customer base, from banks and retailers, to hospitals, schools and critical government strategic assets. It takes care of its customers' people and buildings, by delivering the basics brilliantly and by deploying advanced technology. It is pioneering the Connected Workspace, using smart analytics to provide valuable insight and deliver efficiencies to create outstanding work environments for customers.
Find out more at www.mitie.com
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