statement of principal risks and uncertainties 

MITIE has an established risk management and corporate governance framework which is described in the corporate governance statement.Within this framework, MITIE classifies risks in four categories according to their potential impact on the Group:

• Strategic risks - those thatconcern the long-term strategic objectives of the business;
• Operational risks – those that arise during day to day activities of the business which if not managed, could impact upon the running of the business and the ability of the business to deliver on its strategy;
• Financial risks – those that directly impact upon the finances of the business; and
• Compliance risks – those that relate to legal or regulatory sanctions, financial loss, or the loss of reputation that may arise as a result of failure to comply with applicable laws and regulations.

Overall responsibility for the management of risk lies with the Board.

Other factors not discussed within this statement could also impact the Group and accordingly, this statement should not be considered to represent an exhaustive list of all of the potential risks and uncertainties, both positive and negative, that may affect the Group.The areas of MITIE’s activities to which the principal risks and uncertainties of the Group are perceived to be attributable are set out in our full statement of pricipal risks and uncertainties statement which you can download here.