Support services group forecasted to generate £1.4bn turnover in 2007/2008

Support services group Mitie has said it is on track for a successful year after trading in line with expectations over the last four months.

In a trading statement Mitie said its order book had continued to grow and it had secured 97% of turnover for the year ended 31 March 2008.

The consensus forecast for the year is £70.4m pre-tax profit on £1.4bn turnover.

The group said it was well-positioned to take advantage of the ongoing trend to outsource services.

Panmure Gordon analyst Andy Brown said the statement was positive although warned the group remained exposed to commodity services markets such as security and cleaning.

Francesca Raleigh at Numis said the group was not experiencing any softening and good tendering opportunities remained.