The Bristol based outsourcing company, Mitie (Management Incentive Through Investment Equity), posted a headline pre-tax profit increase of 4.3% to £113.3m while headline operating profit increased 6% to £127.5m.

It was also announced that Mitie had nearly sold the loss-making mechanical and electrical engineering construction business, which made one-off losses of £13.6m in the year to March 31st.

Mitie employs 79,000 people in the UK and provides a variety of outsourcing services to organisations such as Mitchells & Butlers, Network Rail as well as British government and local councils.

Mitie acquires UK home care provider Enara for £110.8 million