Mitie Group plc (GB:MTO) has released an update.
Mitie Group plc reports a strong start to the fiscal year 2025, with a 10.5% increase in Q1 revenue, driven by significant contract wins and renewals as well as contributions from prior year acquisitions. The company has also launched a share buyback program, purchasing 21 million shares, and is on track with its new margin enhancement initiatives expected to save approximately £20m in FY25. Additionally, the acquisition of ESM Power positions Mitie to expand its presence in the high voltage power connections market, supporting the decarbonisation of customer power requirements.
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