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Mitie confident despite softer economy

Support services and maintenance contractor Mitie said it is trading in line with management expectations and is well placed for growth despite wider economic jitters.

Releasing a trading statement before its financial year closes next Monday, the firm said it had performed well in the second half.

The Bristol-based group this month completed the acquisition of national roofing contractor DW Tilley, for £7.5 million with a further £5 million payable relative to future performance. DW Tilley had revenue of £14.3 million for the year to October 2007.

Mitie also this month acquired Midlands-based Catering Partnership Holdings and secured an £85 million contract with a major bank to provide services including cleaning, waste management and landscaping.

The trading statement said: "Despite some uncertainty within the general economic climate in the UK, Mitie continues to see opportunities for growth in its own markets and within its client base."

Mitie will post its annual results on 19 May.