Mitie issues profit warning as it reports £100m loss

Mitie issues profit warning as it reports £100m loss
 

Outsourcing firm Mitie has issued another profit warning as it faces fresh hits from economic uncertainty and rising staff costs.
The company's half-year results revealed a £100m loss, compared with a £45m profit a year earlier, which it blamed on "changing market conditions".
It has put its healthcare unit "under strategic review" and is withdrawing from the home healthcare market.
Shares in Mitie plunged 13% in early trade.
The £100m loss was mainly due to Mitie writing down the value of its home healthcare business.
The company said the board had changed its long-term... read more

 
21 November 2016 in Business, Views: 60
Source: BBC
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