Mitie Group PLC (LSE:MTO) reported fourth-quarter revenue of £1,525 million, coming in 2% ahead of analyst expectations of £1,492 million, according to its latest trading update.
The facilities management group delivered 13% revenue growth in the quarter, bringing full-year FY26 revenue to £5,650 million, broadly in line with consensus forecasts of £5,653 million. This included 6% organic growth and 11% total reported growth, with acquisitions contributing around 5%.
During the year, Mitie secured £6 billion in new contract wins and renewals, compared with £7.5 billion in FY25. Key agreements included integrated facilities management services for Aviva and Imperial College, security contracts with Asda, and work with Transport for London.
The company’s bid pipeline expanded significantly, rising 29% year on year to £31 billion from £30 billion at the end of December.
Free cash flow reached £150 million for FY26, up 5% compared with the previous year and comfortably exceeding the company’s target of more than £120 million.
Mitie also reported solid progress on integrating Marlowe, achieving initial cost synergies of around £5 million during the year. In addition, the group completed four acquisitions worth approximately £15 million, including deals that strengthen its fire and security capabilities, particularly for data centre projects in the Nordic region.
Management reaffirmed its expectation of delivering at least £260 million in EBITA for FY26, broadly in line with analyst estimates of £262 million.
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