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City marks down Mitie shares despite 22 per cent rise in profits
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MITIE Group, the cleaning and maintenance group that has the
contract to clean the Holyrood parliament building, yesterday posted
a 22 per cent rise in interim profits.
However, shares in the company, which has been the subject of
recent bid speculation, fell 4 per cent to 150p as the group said
profit margins were under pressure in the south-east of England.
Ian Stewart, Mitie's chief executive, said later that he felt the
company had "over-egged" the warning on margins. He said: "We have
probably overplayed this one, but we probably wanted to get in before
people became cynical about ...
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