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Mitie social fund

FINANCE

ORDERS for social housing maintenance work have hit £150 million at contractor Mitie.

This work is handled by Mitie's property services division, which upped pre-tax profits by £500,000 to £4.4 million in the six months to September 2005 on turnover of £78.2 million ? up from £64.1 million.

Chief executive Ian Stewart said: 'Property services is coming through quickly as money we invested to take advantage of the Decent Homes init iat ive is paying off.' Mitie, which also invested £20,000 chasing Private Finance Initiative work, expects to turn over between £60 million and £70 million in the full year on social housing cont racts.