Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I predicted in November that Mitie (MTO) would soon be issuing its third profit warning and that new boss Phil Bentley had every incentive to clear the decks and start afresh, demystifying the opaque balance sheet bequeathed to him by his prickly and defenestrated predecessor Ruby McGregor-Smith.
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