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Mitie Group plc ( (GB:MTO) ) has provided an update.
Mitie Group plc has announced the purchase of 500,000 of its own ordinary shares, ranging in price from 113.4p to 114.4p per share, as part of its Share Buyback Programme. The company plans to cancel these shares, reducing the number of shares in circulation and potentially enhancing shareholder value. This move aligns with Mitie’s strategy to maintain market leadership and deliver enhanced shareholder returns, as outlined in its Facilities Transformation Three-Year Plan.
More about Mitie Group plc
Founded in 1987, Mitie Group plc is a leading technology-led facilities transformation company in the UK, employing 68,000 colleagues. The company is a trusted partner to approximately 3,000 blue-chip customers across both public and private sectors, specializing in engineering, security, and cleaning & hygiene services. Mitie’s market leadership is supplemented by its projects in building modernization, decarbonization, and telecom infrastructure, with a strong focus on sectors such as Central Government, Healthcare, and Transport. Known for its industry-leading ESG credentials and award-winning sustainability strategies, Mitie is targeting Net Zero emissions by the end of 2025.
YTD Price Performance: 3.09%
Average Trading Volume: 2,756,280
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.39B
Find detailed analytics on MTO stock on TipRanks’ Stock Analysis page.
