Baroness McGregor-Smith quit as chief executive last year after the profit warning OneRedEyeThe City regulator has opened an investigation into the timing of a profit warning at Mitie in the latest setback for the troubled outsourcing company. In a short statement to the stock market Mitie said that the Financial Conduct Authority was looking at the “timeliness” of a profit warning issued by the company on September 19 last year. It said that the regulator was also looking at the “manner and preparation and content” of financial information about Mitie in its results for the year to the end of March 2016. “The company is fully co-operating with the FCA but does not intend to update the market until completion of the investigation,” Mitie added. The move is the latest blow to Mitie and its long-suffering shareholders.…

Source: The Times August 29, 2017 07:52 UTC