Dramatic drop in profits for Mi Homecare

MITIE’s healthcare division experienced a significant drop in profitability for the year ended 31 March 2015.While revenue declined marginally from £91.7m to £91.4m, operating profit dived by 61.4% from £12.7m to £4.9m – leaving an operating profit margin of 5.4% compared to 13.8% the previous year. The board reported that there was £0.4bn of business…