StockMarketWire.com - Facilities management company Mitie resumed its dividend after swinging to first-half profit as growth was driven by a boost from the acquisition of Interserve Facilities Management.

For the six months ended 30 September 2021, pre-tax profit was £50 million, compared with a loss of £0.9 million year-on-year as revenue including share of joint ventures and associates rose 103% to of £1.91 billion.

An interim dividend of 0.4p per share was reinstated.

Looking ahead, the company left annual guidance unchanged and said the second half was traditionally a 'little stronger' than the first half, as the final quarter attracts additional project works across the public sector.

'Excluding our short term COVID-related contracts, which we expect to significantly reduce in the second half, we are again expecting a stronger second half performance for the underlying business,' the company said.

'This will result in an operating profit before other items for FY22 of between £145m and £155m, unchanged from our previous guidance.'


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