Probe ended: City watchdog completes investigation into timing of Mitie alert

The City watchdog has ended its investigation into the timeliness of a profit warning announced by outsourcing giant Mitie in September 2016. The Financial Conduct Authority had also been investigating the “manner of preparation and content of the company’s financial information, position and results for the period ending 31 March 2016”, according to Mitie. The firm, whose contracts in Scotland including cleaning and maintaining the Scottish Parliament building, recently reported a 6 per cent fall in underlying earnings to £77.1 million for the year to March.