Downsizing hits MITIE’s homecare revenues and profits

MITIE’s healthcare division reported a 14.7% drop in revenues for the year ended 31 March 2016 as it downsized by nine homecare branches. Total turnover for the division was £78m compared with £91.4m the previous year but the board reported a £4m operating loss before other items (2015: profit £4.9m) representing an operating profit margin…