Mitie Group plc ( (GB:MTO) ) has issued an announcement.
Mitie Group plc announced the purchase of 500,000 of its ordinary shares as part of its Share Buyback Programme, with plans to cancel these shares, reducing the total number of voting rights. This move is part of Mitie’s strategy to enhance shareholder returns and strengthen its market position, aligning with its new Facilities Transformation Three-Year Plan aimed at accelerating growth and maintaining market leadership.
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 people. It partners with around 3,000 blue-chip customers across public and private sectors to transform their estates and improve experiences using data-driven insights. Mitie holds market leadership in engineering, security, cleaning, and hygiene services, and offers projects in building fitouts, decarbonisation, and telecoms infrastructure. The company has a strong presence in sectors like government, healthcare, and transport, and is recognized for its ESG credentials and industry awards.
YTD Price Performance: 3.45%
Average Trading Volume: 2,355,309
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.38B
Learn more about MTO stock on TipRanks’ Stock Analysis page.