Advisory firm Evercore Partners has been called in to help a FTSE 250 facilities management company weigh up sale options for its loss-making property management business.

Bristol-based Mitie, which offers various outsourced facilities management and consultancy services, said in a half-year pre-close statement today that a turnaround aimed at cutting annual costs by £40m by 2020 is "on track". The company said the plan will slash headcount by 480 by the end of its current financial year.