Mitie Group Plc (MITFF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to everyone to MITEI's headquarters here in the Shard. Thanks for joining us this morning in person or online for our preliminary results presentation for the year ended March 2024, FY24 as we refer to it. I was just thinking back, it's my eighth annual results presentation now for MITEI. As this cover says, FY24 has been another strong year of delivery for MITEI, and we're starting our new facilities transformation three-year plan with some good momentum. So just to summarize some of the key facts to start with, FY24 has been our third successive year of record performance and completes the final year of our last three-year plan. Our financial performance has been strong, 11% year-on-year revenue growth, 30% year-on-year operating profit growth, and 29% year-on-year earnings per share growth. Our leading indicators are also encouraging a 44% increase in wins and renewals in the year to 6.2 billion total contract value. Our order book was up 18% to 11.4 billion total contract value. And our pipeline of those in-flight tenders grew 27% to 18.6 billion total contract value. Engagement indicators are also at record levels. Customer net promoter score was plus 60, up 18 points. And that's a world-class level in B2B scores. It's the biggest year-on-year increase we've ever seen, reflective of our service delivery. Employee engagement also reached a new high, up six percentage points to 63% of our colleagues describing themselves as fully engaged, with 40,000 colleagues now taking part. And colleague attrition fell by a third to a low of 13%. It's this balanced scorecard that underpins our capital allocation strategy, gives us the confidence to continue to invest in our business model and to increase returns to shareholders. M&A spend was 66 million. That's three t...