Mark Crouch, market analyst at eToro, says Mitie's (LSE:MTO) full-year results, which delivered double-digit growth in revenue, operating profit and free cash flow, should give investors plenty to cheer about.
Mitie, the British facilities services provider, this morning gave investors the positive read out with a record £16.3 billion order book and a £31.7 billion bidding pipeline plus, as Crouch highlighted, its acquisition of Marlowe is beginning to bear fruit.
Crouch sees the deal strengthening Mitie in facilities compliance and opening cross-selling and synergy opportunities, while the order book and bidding pipeline together provide a long runway for future earnings.
Crouch, in a note on Thursday, highlighted Mitie's growing profits, strong cash generation, a rising dividend and a further £100 million share buyback as concrete signals of management's confidence and execution.
"The market often rewards visibility and execution, and Mitie currently appears to have both in abundance."