Revenue at the security and facilities management (FM) contractor Mitie was up 10.5 per cent to £5,619m, according to the company’s results for the financial year to March 2026.
Its operating profit margin before other items was 4.7 per cent, very slightly higher than the previous year’s 4.6pc, despite what the firm termed the headwinds of higher employer National Insurance Contributions (NIC), unsuccessful contract renewals and other one-off costs. The firm contrasted this as well ahead of UK facilities management market’s growth of two or three per cent a year.
The firm’s Business Services arm includes Security; that generated revenue of £2,985m in the financial year 2026 that ended in March, a rise of 18pc compared to the year before’s £2,538m. Singled out was a security contract win at the supermarket chain Asda; besides renewal of security services for Associated British Ports, and the Cooperative Group.
The firm sees digital building management tech, de-carbonisation (low-carbon renewable technologies such as air and ground source heat pumps, solar photovoltaic panels, and electric vehicle charging), and data centres as particular areas of growth. It’s looking to increase ‘share of wallet’ in Facilities Management by adding service lines to ‘strategic client accounts’. The firm notes that it delivers Integrated Facilities Management (IFM) to only about 40pc of its largest contracts. A typical Facilities Management contract length is three to five years in the private sector and up to five to ten years in the public sector.
Mitie says it seeks to position itself as a ‘frontier’ firm; it’s deploying AI agents and software robots across operations and the back-office; some 155 ‘bots’ are live or in development, reducing manual work.
As for the acquisition of fire and building safety testing and inspection firm Marlowe for about £350m (in cash and shares), integration with the wider firm was progressing well, according to the results; initial cost synergies are of £7m in the financial year 2026.
Phil Bentley, CEO, said the firm entered the financial year 2027 with good momentum, supported by a record order book and bidding pipeline. He said: “Notwithstanding the potential for some incremental cost inflation as a result of the conflict in the Middle East, our ongoing margin enhancement initiatives, combined with the increasing mix of higher-margin Facilities Transformation and Facilities Compliance work and continued investment in data and AI, are expected to support margin progression, while we continue to reinvest for growth. We are confident of delivering our FY25-FY27 Strategic Plan.
“Mitie’s long-term value creation potential and foundations for the next phase of our strategy continue to be strengthened: capturing client ‘share of wallet’ in Facilities Management through deeper relationships and investments in sales & marketing; ‘turbo-charging’ Facilities Transformation through a growing pipeline of capital projects; and accelerating growth in Facilities Compliance with our existing clients, as we add Water & Environmental services and target larger opportunities in Fire & Security. Building on our leadership in technology, an enterprise-wide programme has been launched to re-imagine and optimise both our internal workflows and customer-facing solutions through agentic AI, positioning Mitie as a ‘frontier’ firm in the industry. Together, these strategic imperatives are expected to sustain above-market growth, expand margins and deliver attractive shareholder returns well beyond FY27.
“After almost a decade as CEO, it remains my intention to retire from Mitie at the end of the FY25-FY27 Strategic Plan, once a successor is in place – a process that is well underway. 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. I thank every one of our 84,000 Mitie colleagues for their dedication, professionalism and hard work, without which none of this could have been achieved. We are building a larger, more profitable and more cash generative business with a greater capacity to invest in growth and deliver attractive returns to shareholders.”
About the firm
Mitie’s security and FM work covers central government (such as the Department for Work and Pensions), prisons, retail and real estate management companies such as JLL. Visit www.mitie.com.
