Outsourcing group Mitie has mentioned it’s beneath investigation by the Monetary Conduct Authority (FCA) over the timing and content material of a revenue warning.
Mitie mentioned it was instructed by the FCA final Friday and was “absolutely co-operating” with the monetary regulator.
The revenue warning despatched shares in Mitie tumbling by 1 / 4 when it was launched in September final 12 months.
The agency mentioned on the time that Brexit uncertainty and different “financial pressures” would result in decrease income.
Mitie is one the UK’s largest outsourcing teams, providing amenities administration providers to shoppers such because the NHS, London Metropolis Airport and Linkedin.
The agency mentioned it was knowledgeable the FCA “has commenced an investigation in reference to the timeliness of a revenue warning introduced by the Firm on 19 September 2016”.
The regulator can also be trying into “the style of preparation and content material of the corporate’s monetary data, place and outcomes for the interval ending 31 March 2016”, Mitie mentioned.
It added that it didn’t intend to replace the market till the investigation was accomplished.