Mitie Group H1 Revenue Up 10%, Launches £100 Mln Share Buyback, Upgrades FY26 Profit Outlook

(RTTNews) - Mitie Group Plc (MTO.L) reported that its revenue for the six months ended 30 September 2025 rose approximately 10 percent to 2.7 billion pounds from 2.4 billion pounds last year. This included around 6.1 percent organic growth, driven by net contract wins, scope increases, pricing adjustments, and higher project volumes—particularly in the defense, healthcare, local government, and education sectors.

The Group has upgraded its operating profit guidance for fiscal year 2026 to at least 260 million pounds, compared to 234 million pounds in fiscal year 2025.

A new 100 million pounds share buyback program has been launched over 12 months, bringing the cumulative total of buybacks since fiscal year 2023 to 303 million pounds.

Mitie noted that it will maintain its progressive dividend policy with a payout ratio between 30 and 40 percent and continue to pursue strategically aligned infill M&A opportunities.

The Group also expects to achieve at least 30 million pounds in cost synergies by fiscal year 2028, supported by accelerated revenue growth through the cross-selling of regulatory-driven services.

Interim results for the six months ended 30 September 2025 will be released on Thursday, 20 November 2025.