Financial performance and key indicators
• Operating profit before other items of £35.4m (HY16: £58.1m)
• The board has decided to withdraw from the domiciliary healthcare market and has placed the group's domiciliary healthcare business under strategic review. Our healthcare businesses will continue to fulfil all obligations but there will be no investment in new areas of this market. Mitie will manage its withdrawal in an orderly and responsible manner. The board has changed its long-term view of this market. All healthcare goodwill and intangibles have been written off
• Loss before tax of £(100.4)m (HY16:£45.1m) is stated after other items of £128.1m, including full impairment and write off of Healthcare goodwill and acquisition-related intangible of £117.2m and restructuring costs of £6.0m
• Dividend declared at 4.0p (HY16: 5.4p) (1.6x cover; HY16: 2.1x cover)
• Rolling 12 month cash conversion of 107.9% (HY16: 91.4%)
• Net debt at 30 September 2016 was £231.7m or 1.9 x EBITDA (HY16: £221.8m or 1.5x EBITDA)
• Healthy sales pipeline at £9.3bn (March 2016: £9.1bn) and order book at £7.7bn (March 2016: £8.5bn)
• 94% of 2016/17 budgeted revenue secured (HY16: 97%) and 65% of 2017/18 forecast revenue secured (HY16: 68%)
