Mitie Group PLC says full-year profit, revenues to be in line with guidance

Mitie Group PLC () said that running gain ahead of other objects and revenues for the yr to 31 March will be in line with assistance regardless of the coronavirus crisis.

In a investing update, the services management agency said there was “continued improvement” in yr-close web credit card debt, which was £80mln.

Study: Mitie withdraws assistance as coronavirus outbreak escalates

Regular day by day web credit card debt for the next half of the yr was £216mln, against £287mln the yr ahead of.

The preliminary results will be released on 25 June alternatively of 4 June as originally planned, next the Monetary Carry out Authority’s recommendations to lengthen accounts deadlines because of to lockdown limits.

“We see Mitie as extremely exposed to Coronavirus relative to other outsourcers, offered its 70{744e41c82c0a3fcc278dda80181a967fddc35ccb056a7a316bb3300c6fc50654} personal sector publicity,” analysts at Liberum commented in a observe.

“We think that Mitie had way too much credit card debt going into the pandemic and will have an even weaker covenant coming out.”

Shares were flat at sixty four.8p on Tuesday early morning.