LONDON (dpa-AFX) - Mitie Group plc (MTO.L), a provider of facilities management and professional services, reported Thursday that its fiscal 2019 profit before tax was 36.4 million pounds, compared to last year's loss of 15.4 million pounds.
Basic earnings per share were 8.6 pence, compared to loss of 7.6 pence a year ago.
Adjusted pre-tax profit was 74.4 million pounds, compared to 66.7 million pounds last year. Adjusted earnings per share were 16.8 pence, compared to prior year's 15.2 pence.
Revenue for the period grew 9.4 percent to 2.22 billion pounds from prior year's 2.03 billion pounds. Organic revenue growth was 5.5 percent reflecting strong performance from top strategic accounts.
Further, the Board has recommended a final dividend of 2.67 pence for the year, making the total full-year dividend at 4 pence, same as last year.
The company said it expects to hold the dividend flat at least until the completion of the transformation programme when it will review the policy.
Looking ahead, Mitie expects to continue to grow revenue organically at 3 percent-4 percent in the medium term.
For fiscal 2020, the company expects operating profit to grow at mid-single digits.
The company added that Project Forte and focus on strategic accounts and larger businesses would boost operating profit margin in the medium term to its target of 4.5 percent-5.5 percent.
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