Mears Group upbeat for full year

Social housing and care provider Mears said it expects to report full year results in line with management expectations, coupled with a very strong cash performance.

Social housing and care provider Mears said it expects to report full year results in line with management expectations, coupled with a very strong cash performance.

Mears said solid trading has continued in both core divisions of Social Housing and Care, despite the record number of mobilisations during the year and a significant amount of management time devoted to the Morrison acquisition.

The group's order book has increased to £3.8bn from £2.6bn, providing forward visibility on 88% of consensus forecast revenue for 2013. The figure includes the acquisition of Morrison.

Mears said the trading performance of Morrison in the period between completion and December 31st 2012 is in line with management expectations.

Overall its bid pipeline remains robust at in excess of £3bn, it said.

However Mears cautioned that its non-core M&E business experienced difficult trading conditions, particularly in the final quarter, and is expected to show an operating loss for the 2012 year.

CJ

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023
What happened to Credit Suisse?
Economy

What happened to Credit Suisse?

UBS acquired Credit Suisse at £2.65bn on Sunday afternoon – significantly below its closing value on Friday, which was around £7bn. We take a look at …
21 Mar 2023
Rightmove: UK house prices up £3,000 as property market rebounds
House prices

Rightmove: UK house prices up £3,000 as property market rebounds

Rightmove’s latest house price index shows the property market has been resilient despite an economic downturn
20 Mar 2023