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Outsourcing giant Mitie has posted a half-year pre-tax loss of 拢100m and warned investors for the second time that profit for the full year will be lower than expected.

In the six months to September this year the firm slumped to a 拢100.4m pre-tax loss on reduced turnover of 拢1,093m, compared to pre-tax profit of 拢45.1m on revenue of 拢1,123m the previous year.

Mitie was hit by a 拢128m writedown caused by its decision to exit the domiciliary healthcare market - the provision of healthcare services in patients鈥� homes. It blamed the 鈥渄ownward pressure on homecare charge rates and a reduction in care volumes has resulted in increased healthcare losses鈥�.

The healthcare business is now under strategic review and Mitie will explore options including a possible sale.

Mitie said it had been further hit by rising labour costs and economic uncertainty, a drop in high margin project work, reduced spending on facilites management, and a deterioration in local authority budgets. Mitie also reported restructuring costs of 拢6m

Mitie predicted that labour costs would continue to increase in the UK over the coming years on top of anticipated cost rises on imported goods and services, creating further pressures for clients.

The firm said it expected improvement in the second half of the year due to new contract awards, but warned it still expected underlying profit to be lower than previously expected.

Mitie chief executive Ruby McGregor-Smith (pictured) 鈥� who is stepping down next month 鈥� said: 鈥淭he first half of this year has been difficult but we are not alone in facing significant macroeconomic challenges.

鈥淭he steps we have taken to counter these impacts include the restructuring of both frontline and support functions across FM and the decision to withdraw from the domiciliary care market. Second half performance is expected to improve with our new operating model as we adapt to market conditions.鈥�