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BUZZ-Mitie: Tumbles as revenue growth seen affected by economic uncertainty

Thu 21st November, 2019 12:51pm
** Shares of outsourcer Mitie Group  MTO.L  fall >6%,
dropping to bottom of UK's smallcap index  .FTSC 
    ** Co says revenue growth to be affected by economic
uncertainty induced by Brexit, upcoming elections as clients
hold back on committing to new projects  urn:newsml:reuters.com:*:nL3N28121G 
    ** Co expresses concern about possible changes to UK's
regulatory framework, restrictions to supply of labour,
materials
    ** CEO says co will appoint interim CFO, which will be
external appointment; In September, CFO Paul Woolf resigned to
join IP management company CPA Global as its finance boss
 urn:newsml:reuters.com:*:nL3N2621IS
    ** MTO shares on track for worst day since May
    ** Company says HY oper. profit from cont. ops. and before
other items rose 5.4% to 33 mln pounds ($43 mln)
    ** Current market cap of 488.5 million pounds 15% lower than
its market cap a year ago
    ** Stock has surged ~20% so far this year, outperforming
smallcap index's ~7% rise

($1 = 0.77 pounds)

 (Reporting by Yadarisa Shabong in Bengaluru)
 ((Yadarisa.Shabong@thomsonreuters.com; Phone: +91 80 6749
9089;))
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