Mitie Group Extends Lloyds Contract
12 Settembre 2019 - 9:07AM
Dow Jones News
By Adria Calatayud
Mitie Group PLC (MTO.LN) said Thursday that it has extended a
facilities-management contract with Lloyds Banking Group PLC
(LLOY.LN) which is expected to generate 170 million pounds ($209.8
million) a year through to 2024.
The U.K. outsourcing company said the extension of this contract
with its largest customer had been factored into guidance on
revenue growth and operating profit provided in its latest
results.
The extension covers 30 service lines which will continue to be
delivered across Lloyds's nationwide branch network and office
estate, Mitie said. Payments received by Mitie will be determined
by the outcomes delivered, rather than by the traditional
input-based service model, the company said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
September 12, 2019 02:52 ET (06:52 GMT)
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