LONDON (ShareCast) - Support and maintenance services supplier Mitie has made a steady start to the year with revenues booked already at 78% of the expected total for the year. This time last year the total booked was 83%.
Group earnings
for the year to March are developing in line with management's expectations, Mitie added.
Facilities Management is benefiting from a move to outsource more as companies and public bodies look to cut costs, but trading conditions in property management and asset management businesses remain challenging in areas including interior fit-out and new build housing related activities.
Mitie added it has won a three-year integrated facilities management contract in the financial services sector with Santander (Madrid: SAN.MC - news) , owner of Abbey and Alliance & Leicester. This contract, with a total value of £100m, will cover Santander's entire UK corporate Head Office buildings portfolio of 33 sites in England, Scotland and Northern Ireland.
"The board remains confident in Mitie's prospects for the future," it added.
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