Mitie Group Plc, Britain’s outsourced service provider, has issued a profit warning, citing a reduction in higher margin project volumes and reduced spending by client’s after the Brexit vote. Mitie Group pointed out the slowdown in its healthcare unit and its property management unit which has been damaged by social housing rent reductions that came into effect in April 2016 and pressures in local authority spending on maintenance and repair projects. Mitie Group has already indicated intentions to exit ‘unsustainable’ care contracts.

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