StockMarketWire.com - Facilities management company Mitie upgraded its outlook on profit for the full year following a strong start to the year.

The company increased its forecast for operating profit - before other items guidance - for FY22 to a range of £145 million to £155 million.

The strong start to the year continued into the second quarter, supplemented by further COVID-related contract awards. The company also said it had secured a new £150 million revolving credit facility for a period of four years from September 2021, with the option to extend for a further year.

'This new RCF replaces the £250m facility put in place in the early days of the COVID pandemic in June 2020, and is on significantly more favourable terms,' the company said.

Looking further ahead, the company kept its current market expectations for fiscal 2023 are unchanged.

The half year results to 30 September 2021 will be published on Thursday 18 November 202.



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