Mitie increases its 2016 interim dividend by 3.8%

DividendMax Ltd.

Mitie increases its 2016 interim dividend by 3.8%

Headline revenue growth of 2.6%, of which 2.1% is organic; overall performance will be weighted to the second half of the year

•      Headline operating profit of £58.1m declined 9.5%, largely reflecting a deterioration in the results of the Healthcare division

•      Following completion of the group's restructuring activities statutory operating profit increased from £5.9m to £53.1m for the first six months of the year

•      Strong headline cash conversion of 101.2%

•      Net debt at 30 September 2015 was £221.8m or 1.5x EBITDA (HY15: £233.8m or 1.5x EBITDA)

•      Continued good dividend growth of 3.8% reflects confidence in future performance

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