Mitie, a support services and asset management firm, has posted a rise in profits in the six months to September 30 and said efficiency drives in the private and public sector will create further opportunities for growth in the next year.

Mitie, whose services include roofing, catering and painting, saw pre-tax profits climb to £42.3m from £37.6m over the same period the previous year on revenues that rose to £801.1m from £760.7m.

Chief Executive Ruby McGregor-Smith commented: ‘In the private sector clients continue to seek efficiency through multi-service and integrated facilities management contracts while budgetary pressures in the public sector will create substantial facilities management outsourcing opportunities, although the timing of these is currently difficult to predict.'

Mitie explained that the government is expected to rely heavily on outsourcing in the coming period as it seeks to balance the budget following stimulus measures that were prompted by the economic crisis. The company anticipates considerable impetus in the public sector over the next two years as all public sector bodies will be challenged to maintain front line service delivery with reduced budgets.