MITIE Group PLC (LSE:MTO)
£ 1.204 0.006 (0.5%) Market Cap: 1.54 Bil Enterprise Value: 1.36 Bil PE Ratio: 17.45 PB Ratio: 3.92 GF Score: 66/100

Full Year 2023 Mitie Group PLC Earnings Call Transcript

Jun 08, 2023 / 08:30AM GMT
Release Date Price: £0.995 (+3.22%)
Phil Bentley
Mitie Group plc - CEO & Executive Director

Okay. Well, good morning, everybody, and welcome to our results presentation for the financial year ended 31st of March 2023. Thank you for everyone coming over to the shard here joining us today.

As the cover slide says, we have delivered a strong performance in the year. We made further progress against our strategic priorities. And we're entering FY '24 with some degree of confidence. FY '23 was indeed a record year in many ways, particularly as we entered the year with the challenge of replacing GBP 450 million of revenue from the short-term COVID work we've done in the prior year, which I'm pleased to say that we did. Indeed, group revenue grew by 1.5%, exceeding GBP 4 billion for the first time. And we grew EPS by 3% to 9.5p per share.

We generated a good level of free cash flow even after we stopped the invoice discounting program. And we returned dividends including dividends paid in the shares we bought back in FY '23, GBP 117 million to our shareholders. Our recommended final dividend of 2.2p per share takes the

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