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Markets News

Outsourcer Mitie posts 35% fall in first-half profit

Nov 19 (Reuters) - British outsourcing firm Mitie Group on Thursday posted a 35% fall in first-half profit and scrapped its interim dividend, despite cost cuts as it won fewer contracts from its aviation and financial clients during the COVID-19 pandemic.

Operating profit for the six months ended Sept. 30 fell to 21.5 million pounds ($28.48 million) from 33 million pounds a year earlier, while total revenue declined 9.8%, the company said.

Mitie provides a range of engineering, security cleaning and care services. ($1 = 0.7550 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Subhranshu Sahu)

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