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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 ordinary shares as part of its Share Buyback Programme. The company plans to cancel these shares, reducing the total number of shares in circulation. This move is a strategic effort to enhance shareholder value and maintain strong market positioning. The share buyback reflects Mitie’s commitment to its shareholders and aligns with its new Facilities Transformation Three-Year Plan aimed at accelerated growth and enhanced returns.
More about Mitie Group plc
Founded in 1987, Mitie Group plc is the leading technology-led Facilities Transformation company in the UK. It serves approximately 3,000 blue-chip customers in both public and private sectors, offering services in Engineering, Security, Cleaning & Hygiene. The company holds market leadership positions in these areas and provides projects in building fit-outs, modernisation, decarbonisation, fire & security, and telecoms infrastructure. Mitie has industry-leading ESG credentials and is recognized as a UK Top Employer.
YTD Price Performance: 13.43%
Average Trading Volume: 3,092,911
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.36B
See more insights into MTO stock on TipRanks’ Stock Analysis page.
