Mitie reports £1.4 billion Q1 revenue, up 10%, with a £32.5 billion bidding pipeline amid OCS takeover backing.
Mitie Group (LON:MTO) posted a 10% year-on-year rise in first-quarter revenue to £1.4 billion, outpacing a 3% market growth rate. The company cited strong trading momentum carried over from fiscal 2026, which ended in March.
Contract wins and renewals surged over 30% to £1.6 billion, while the bidding pipeline reached a record £32.5 billion. Mitie also confirmed shareholder support for a £3.1 billion cash offer from OCS, pending approval.
The company attributed its performance to record contract wins, free cash flow, and capital deployment, alongside a workforce of over 84,000 employees.