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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  MITIE Group    MTO   GB0004657408

MITIE GROUP

(MTO)
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Mitie : Extends Lloyds Contract

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09/12/2019 | 02:54am EDT

By Adria Calatayud

Mitie Group said Thursday that it has extended a facilities-management contract with Lloyds Banking Group which is expected to generate 170 million pounds ($209.8 million) a year through to 2024.

The U.K. outsourcing company said the extension of this contract with its largest customer had been factored into guidance on revenue growth and operating profit provided in its latest results.

The extension covers 30 service lines which will continue to be delivered across Lloyds's nationwide branch network and office estate, Mitie said. Payments received by Mitie will be determined by the outcomes delivered, rather than by the traditional input-based service model, the company said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
LLOYDS BANKING GROUP -0.76% 60.44 Delayed Quote.17.30%
MITIE GROUP -0.87% 148.7 Delayed Quote.35.62%
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Financials (GBP)
Sales 2020 2 233 M
EBIT 2020 83,2 M
Net income 2020 45,7 M
Debt 2020 77,9 M
Yield 2020 2,67%
P/E ratio 2020 11,1x
P/E ratio 2021 8,93x
EV / Sales2020 0,28x
EV / Sales2021 0,27x
Capitalization 542 M
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Technical analysis trends MITIE GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 187,22  GBp
Last Close Price 150,00  GBp
Spread / Highest target 90,0%
Spread / Average Target 24,8%
Spread / Lowest Target -3,33%
EPS Revisions
Managers
NameTitle
Phillip Keague Bentley Group Chief Executive Officer & Executive Director
Derek Mapp Chairman
Paul Anthony Woolf Chief Financial Officer & Executive Director
David Cooper Chief Information Officer
Nivedita Krishnamurthy Bhagat Independent Non-Executive Director
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