Mitie Group Plc (MITFF) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.236 Good morning, everyone. Thank you for coming today to 00:00:05.236 -- 00:00:10.622 hear the MITRE's Interim's presentation for the first six months of FY25. 00:00:10.622 -- 00:00:12.103 We're 00:00:12.103 -- 00:00:17.108 broadcasting live as usual here from our headquarters in the Shard. 00:00:17.108 -- 00:00:23.235 And as you know, this is the first year of our Facilities Transformation three-year 00:00:23.235 -- 00:00:26.558 plan. And it's the first half of that three-year plan. 00:00:26.558 -- 00:00:31.730 And we've delivered both good strategic progress, I think, and financial 00:00:31.730 -- 00:00:34.496 performance in the period, as I hope will show. 00:00:34.496 -- 00:00:39.988 This photo on the cover shows our new brand creatives for Mighty. 00:00:39.988 -- 00:00:45.320 We're sort of weaving together data and the built environment, and we're using this 00:00:45.320 -- 00:00:48.905 in in our bidding materials now going forward. 00:00:48.905 -- 00:00:53.931 So let me kick off first with the highlights for H1 FY25. 00:00:53.931 -- 00:00:55.533 As 00:00:55.533 -- 00:00:59.738 I said, I think our financial performance has been good. 00:00:59.738 -- 00:01:03.363 Revenue was up 14% year-on-year 00:01:03.363 -- 00:01:08.469 to £2.4 billion, and it's actually been stronger than we expected 00:01:08.469 -- 00:01:13.639 for this time of the year. Operating profit was also up 14% 00:01:13.639 -- 00:01:15.423 to 101 00:01:15.423 -- 00:01:21.075 million pounds. And although EPS only grew by 2%, this 00:01:21.075 -- 00:01:26.161 was after much higher corporation taxes levied this year. 00:01:26.161 -- 00:01:30.788 Of course, as I always say, financials are looking in the rear view mirror. 00:01:30.788 -- 00:01:35.676 More relevant are the...