Mears Group (LSE:MER), the UK housing maintenance and services provider, confirmed full-year revenue and adjusted profit before tax are expected to meet market expectations of £1.04bn and £50.7m respectively, as a flurry of new contract wins drives the business into an intensive mobilisation phase.
The company secured £1.5bn of new local government orders during the first half, and separately announced a new ten-year contract with Rooftop Housing Group valued at approximately £150m, covering responsive repairs, void refurbishment, planned works and compliance services across 7,000 housing units in South Worcestershire and North Gloucestershire.
Chief Executive Lucas Critchley said the group had "performed strongly through an intensive period of contract rebids, complemented by strategically important new business wins with Birmingham City Council and Rooftop Housing Group."
Critchley also noted that integration of the recently acquired Pennington business is "well advanced" and already accelerating development of Mears' compliance offering, alongside strengthening its position in long-term asset management contracts.
The group will report interim results for the six months ended 30 June on 6 August.
