Tuesday, 29 August 2017

UK outsourcing group Mitie investigated by Financial Conduct Authority

UK outsourcing group Mitie has said it is under investigation by the Financial Conduct Authority (FCA) over the timing and content of a profit warning.

Mitie said it was told by the FCA last Friday and was "fully co-operating" with the financial regulator.

The profit warning sent shares in Mitie tumbling by a quarter when it was released in September last year.

The firm said at the time that Brexit uncertainty and other "economic pressures" would lead to lower profits.

Mitie is one of the UK's largest outsourcing groups, offering services to clients such as the NHS and London City Airport.
The provider of pest control, cleaning, healthcare and security services, which employs more than 50,000 people, issued three profit warnings last year.

It parted with longstanding chief executive Ruby McGregor-Smith in October.

BBC      News.

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