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FCA halts inquiry into Mitie finances

29 June 2018

An investigation by the Financial Conduct Authority (FCA) into the disclosure practices of Mitie has been closed.

It had announced last August that it was looking into the timelines of a profit warning by the company in September 2016, according to Shares Magazine.

The inquiry also included examination of the Mitie financial information updates, including the company's position, results, preparation and content.

Mitie announced earlier this month that its transformation programme was progressing in line with expectations and operating within debt covenants.

The company had also received favourable response from the financial sector last year, regarding its revenues and operating profit.

It is expected that financial analysts will regard the FCA decision as providing further evidence that the business is continuing to reassure its investors that its financial position is much improved.

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