Mitie wins trade from cost-cutting companies

Mitie Group made a good start to the second half of the year, it announced today, helped by winning service contracts with companies looking to lower costs.

The maintenance firm, which provides services to companies including Barclays and the Co-op, said its facilities management team had a particularly strong quarter and that it could see opportunities this year.

"2010 should provide considerable opportunities for Mitie," said the company in a statement.

"Private sector clients are consolidating contracts as they seek to obtain cost and carbon efficiencies. We also expect the public sector to increase levels of outsourcing in response to budgetary pressures although the timing of such activity is currently difficult to predict."

The group said its earnings for the full year were in line to meet its expectations.