Mitie’s revenues climbed 10.5% to £5.62 billion for the year to March 31, 2026 (FY26), the outsourcing group announced, as new contracts and acquisitions powered the top line.
The growth was split evenly between 5.3% from organic expansion, driven largely by fresh contract wins, and 5.2% from acquisitions. The company’s record total order book stood at £16.3 billion at year-end, up 6% on the prior year, with a book-to-bill ratio of 1.1x. Its bidding pipeline reached £31.7 billion, of which more than 70% is expected to be awarded within the next 18 months. Mitie employs around 84,000 people and was founded in 1987.
Adjusted pre-tax profit rose to £236.4 million from £217.9 million a year earlier, while operating profit before other items increased 13% to £264 million. The company is targeting an operating margin of at least 5% by the end of its current three-year strategic plan.
Strategic progress and cost headwinds
Mitie said it had made further progress in its three-year strategic plan, which centres on “Facilities Transformation” — a technology-led approach to improving service delivery, decarbonisation, building modernisation and power upgrades. The group secured £25 million in savings over the past year, more than offsetting cost pressures from inflation, higher national insurance contributions and unsuccessful contract renewals.
Chief executive Phil Bentley noted “progression” in profit margins that allows the firm to invest, but pointed to “the potential for some incremental cost inflation as a result of the conflict in the Middle East”. The remark signals that the wider geopolitical situation could push up the group’s costs, particularly in areas such as energy prices, supply chain disruption or insurance premiums. Mitie’s ongoing margin enhancement initiatives and an increasing mix of higher-margin work are expected to help offset any such inflation, the company indicated.
The group has been active on the acquisition front to strengthen its service lines. Recent purchases include Marlowe, a fire safety services business, completed in August 2025; Forest Group Holdings, adding refrigeration engineering expertise; ESM Power; JCA Engineering, strengthening engineering services; and several security and fire‑safety businesses in Spain and the UK.
Public sector work now accounts for 52% of Mitie’s revenue, a legacy of its acquisition of Interserve’s facilities management business in December 2020. Notable government contracts include a security services deal with the Department for Work and Pensions and a £130 million facilities management contract with HM Revenue & Customs. The company’s core services — engineering, security, cleaning, hygiene and catering — represent approximately 80% of revenue.
On the sustainability front, Mitie targets net zero Scope 1 and 2 emissions by the end of 2025. By FY25 it had reduced those emissions by 22%, with 74% of its UK fleet now electric. The group also retained its position on the CDP Climate A List for the second consecutive year.
CEO retirement plans
Phil Bentley, who has served as chief executive for almost a decade, confirmed that he intends to retire at the end of the FY25-FY27 strategic plan, once a successor is in place. He said the process is “well under way”.
“I am proud of the progress we have made in transforming Mitie into a world-class industry leader, positioned to deliver the ‘future of high-performing places’ for our customers,” Bentley said.
Looking ahead, he added: “We enter full-year 2027 with good momentum, supported by a record order book and bidding pipeline.”
