UK outsourcer Mitie sees better year after pandemic dents profit By Reuters

(Reuters) – British outsourcer Mitie Group (LON:MTO) on Thursday forecast a better-than-expected 2022 after annual profit tumbled 26%, hurt by project work clients cutting spending due to the pandemic and the loss of a high-margin government contract last year.

The provider of engineering, security, cleaning and care services said revenue rose 18% to 2.56 billion pounds ($3.61 billion) for the year ended March 31, primarily due to its acquisition of rival Interserve (LON:IRV) Facilities Management.

($1 = 0.7091 pounds)