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Mitie has double profit for the year despite the business facing economic 鈥渉eadwinds鈥�.

The outsourcing giant posted a 134% jump in pre-tax profit to 拢96.8m for the year to March 2016, up from 拢41.5m last year.

However, as previously warned in March, Mitie posted a dip in revenue to 拢2.23bn, down from 拢2.27bn the previous year.

The group said it had been impacted by lower UK growth, further government spending cuts, increasing labour costs and uncertainty relating to the upcoming EU referendum.

The dip in revenue was also partly due to new contract awards not being mobilised until late in the financial year and delays and cancellations to some project works.

Mitie expects new contracts starting in the 2016/17 financial year will boost its revenue and underpin a return to modest growth.

Ruby McGregor-Smith (pictured), chief executive of Mitie Group said: 鈥淲e continue to see a range of good outsourcing opportunities across our key markets and anticipate modest growth in the coming year. We remain positive about the group鈥檚 prospects for the future.鈥�

The group鈥檚 facilities management arm had a 鈥渟trong鈥� year, boosted by major contract wins including a 拢40m five-year deal with Deloitte to provide a range of facilities management services across its UK estate and a collection of soft and hard facilities management services contracts totalling 拢100m for up to five years for JLL. The division also won a 拢100m five-year contract with NHS Property Services, a private company set up by the Department of Health to manage all the ex-primary care trust estate.

However, growth was held back by clients changing their spending patterns and delaying or canceling projects due to the UK general election and the impending EU Referendum. This was particularly evident in the Hard FM division which saw its profitability 鈥渘egatively impacted鈥�. But in response, Mitie said it cut expenditure and delayed and cancelled some of its own projects to maintain a 鈥渉ealthy鈥� level of profit.

It was a year of 鈥渢wo halves鈥� for the group鈥檚 property management arm as social landlords, following a period of increased spending in the first half of the financial year, found themselves having to reassess their spending and defer project work as the ramifications of the government鈥檚 plans to reduce the housing benefit bill. This impacted on revenues and profits from the division.

Meanwhile, the group said its healthcare business had a 鈥渃hallenging鈥� year as the division鈥檚 local authority clients found their central government funding substantially reduced, increasing demand for services caused by demographic shifts and an inability to increase council tax.

Mitie said it had reduced the scale of its social care operations and would now be 鈥渉ighly selective鈥� with the work it takes on in this area.

Mitie has also rearranged its structure combining the management structures of its property management and healthcare businesses to create one services business and combining parts of its soft and hard facilities management divisions.