It’s been a tough few years to be a company involved in outsourced services to the public sector.
Carillion’s collapse in 2018 was only the latest symptom in a terrible few years for this part of the sector. Statistics extracted from MYB-Public Spend show the clear downward trend for three major suppliers to local government.
The lines showing the initial profit warnings are clear markers for the real struggle that these companies faced. Shortly after their profit warning, Carillion went into liquidation, but the 12 months after initial profit warnings showed significant drops in invoicing for both Interserve (-19% on total invoicing value compared to the previous 12 months) and Mitie (-26%). Other outsourcing companies have also issued warnings.
Subscribers to MYB - Public Spend are able to use our full reporting suite to ascertain whether they are at risk from their relationship with suppliers and to identify partners that expose them less.
For more information email us at enquiries@mybpublicspend.com