By Adria Calatayud
Mitie Group reported a lower pretax profit for fiscal 2025 on exceptional costs, but said it entered the new year with a positive outlook that gives it confidence on its midterm targets.
Pretax profit for the year to March 31 was 145.4 million pounds ($197.1 million), down from 156.3 million pounds a year before, the U.K. outsourcing group said Thursday. The decline was mainly due to exceptional items such as costs linked to the company's plans to improve profitability and acquisition-related expenses.
Excluding exceptional items, Mitie's operating profit rose 11% to 234.1 million pounds. Revenue for the year climbed 13% to 5.09 billion pounds.
"We have entered [fiscal 2026] with good sales momentum, and a record order book and pipeline of bidding opportunities," Chief Executive Phil Bentley said.
Fiscal 2025 was the first of Mitie's three-year strategic plan, and the company said its performance gave it growing confidence on delivering on its targets.
The board declared a final dividend of 3 pence a share, increasing the total payout for the year by 8% to 4.3 pence a share.
Mitie separately disclosed it agreed to buy Marlowe for 366 million pounds in cash and shares.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
June 05, 2025 02:45 ET (06:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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