|Bid||2.809 x 300000|
|Ask||2.894 x 300000|
|Day's Range||2.792 - 2.792|
|52 Week Range||2.005 - 3.376|
|PE Ratio (TTM)||-4.14|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Britain's accounting watchdog is investigating Deloitte's auditing of Mitie Group , the outsourcing company that issued a string of profit warnings last year. The provider of pest control, cleaning, security and healthcare services had already written down the value of its business after a new management team found the company had been too aggressive in the way it booked revenue and costs on long-term contracts.
British outsourcing firm Mitie expects to return to modest growth in underlying profit this year, citing new contracts and cost cuts after it axed its final dividend at the end of a troubled period. The provider of pest control, cleaning, security and healthcare services reviewed its strategy and accounts after three profit warnings in a year, blaming uncertainty surrounding Brexit and rising costs. Chief Executive Phil Bentley, who took charge in December as part of a management overhaul, said Mitie's labour costs had hurt its competitiveness.
Categories: Yahoo Finance Get free summary analysis MITIE Group Plc reports financial results for the half-year ended September 30, 2016. Highlights Summary numbers: Revenues of EUR 1,334.96 million, Net Earnings of EUR -125.49 million. Gross margins narrowed from 13.41% to 12.24% compared to the same period last year, operating (EBITDA) margins now 4.65% from 6.21%. Change in operating ... Read more (Read more...)
Mitie Plc slumped more than 20 percent in London trading on Monday after the maintenance company issued its second profit warning in two months in a sign that Brexit is hurting the U.K.’s dominant services ...