In a trading update to the City today the company said that its Property Management and Technical FM divisions have been “impacted by client deferrals and investment plan delays”, which are now expected to be fulfilled in the second quarter of 2017.

In addition, the Board said it is taking a “more conservative judgement on contractual positions” which will result in a further £14 million in one-off charges this year.

As a consequence, Mitie now expects underlying operating profit for the full year to 31 March 2017 to be in the range of £60m to £70m (including ongoing healthcare losses, but before the previously disclosed £10m one-off costs of change).

It said: “Despite these lower forecast earnings, we expect to continue operating within our contractual banking covenants.”

Mitie added that management changes are being implemented in its “clearly underperforming” Cleaning division.

The firm also announced that group finance director Suzanne Baxter is to leave and be replaced by Sandip Mahajan, formerly the group director of finance at Balfour Beatty, who will assume the position of chief financial officer on February 10.

Roger Matthews, chairman of Mitie, said: “I would like to thank Suzanne for the significant contribution she has made to Mitie over the past 11 years. Since her appointment as Group Finance Director in 2006 she has been a key architect of the successful growth throughout this period and in transforming the capability of the FM business to be a market leader in the UK. On behalf of the Board, I wish Suzanne every success for the future.”

CEO Phil Bentley added: “I would like to offer my thanks to Suzanne for her support during the transition, and I wish her the best for the future. I am delighted that Sandip is joining Mitie. He brings a wealth of experience in financing and in improving the operational performance of long term contracts. I am sure he will make a significant contribution to Mitie and I look forward to working with him.”

In September Mitie warned annual profit would be lower than expected because customers, from banks to local authorities, were delaying projects amid uncertainty caused by the Brexit vote and rising employment costs.

Weeks later it was revealed that Ruby McGregor-Smith is to step down as a director and chief executive to be replaced by former British Gas boss Phil Bentley.

Mitie issued a second profit warning in November amid fresh concerns from economic uncertainty and rising staff costs.

Full year results for the twelve months ending 31 March 2017 will be announced in May.