London, February 16, 2026, 11:54 GMT — Regular session.
- Mitie hit a new 52-week high Monday before pulling back.
- Eyes are on the group’s pace of buybacks, as well as the interim dividend slated for Feb. 20.
- FY26 results are set for release on June 4; that’s the next scheduled update.
Mitie Group PLC (MTO) shares set a new 52-week high in early Monday trading, climbing to 180.6 pence before slipping to 179.4 pence by 1123 GMT, down 0.1% on the session. (London South East)
Fresh highs are turning the focus to cash returns and whether the recent contract streak lasts into spring. Mitie is planning to pay a 1.4 pence per share interim dividend on Feb. 20, and it’s in the midst of a £100 million buyback program—buying back and canceling its own stock to cut the share count. The company also wrapped up its roughly £350 million purchase of compliance specialist Marlowe, it said. (Mitie)
Management hasn’t budged on its FY26 guidance. In a trading update dated Jan. 27, Mitie reported Q3 revenue up 10% to £1.447 billion, sticking with its earlier forecasts for at least £260 million in operating profit before other items and a minimum of £120 million in free cash flow. Chief executive Phil Bentley highlighted a “record” order book and pipeline, with bidding activity reaching £30.4 billion. (Mitie)
Mitie’s buyback program hasn’t missed a beat. The company disclosed in a filing last week that it picked up 300,000 shares on Feb. 11, paying a volume-weighted average of 173.71 pence per share. Those shares are set for cancellation. (Investegate)
Mitie flagged more fresh business this week. On Feb. 12, the company announced it secured a three-year cleaning services deal with the London Fire Brigade, set to kick off in April. “We’re proud to build on our five-year-long partnership,” said Nick Heath, who oversees cleaning and hygiene services. Laura Birnbaum of the brigade said she was “pleased to continue this partnership”. (Mitie)
The broader market held steady—not exactly quiet. In London, financials led a rebound that lifted the FTSE indices, as investors eyed upcoming UK inflation and retail sales figures for hints about the Bank of England’s direction. By 0925 GMT, the FTSE 100 was up 0.41%, and the FTSE 250 added 0.36%, according to Reuters data. (Reuters)
With Mitie, the focus shifts to turning that pipeline into actual contracts—without watching margins get chewed up by the terms. Facilities management leans hard on labor, and it doesn’t take much in costs or service tweaks to send profits swinging.
Still, there’s plenty that could trip things up. If the UK economy loses steam, project pipelines might shrink, and public-sector purse strings could tighten. Any hiccup integrating those recent acquisitions? That would get noticed fast at these valuations.
The company’s next major update lands June 4, when it posts FY26 results, according to its financial calendar. After that, look for a Q1 FY27 trading update and the annual meeting set for July 21. But first, investors should expect the 1.4p interim dividend payment hitting accounts on Feb. 20. (Mitie)
