Mitie Reports A Rise In Earnings As It Unveils New Overhaul

​Outsourcing ​firm ​Mitie has reported a 6​ per cent​ rise in annual underlying earnings to £88​m as it set out details of the next stage of a sweeping turnaround.

​Chief executive Phil Bentley said the second leg of his overhaul is focusing on its engineering services division.

​It ​will involve changes, including improved engineer productivity and cost savings, across back office operations.

It is set to see further cost savings of around £30​m by March 2021.

Mr Bentley said: "Mitie's transformation continues at pace."

"Change has been challenging at times, but our progress and performance to date are encouraging."

The group's order book failed to grow over the year to March 31, remaining flat at £4.1​bn, but it said its pipeline of work increased to £10.2​bn​.

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