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Gloucestershire Business News

Major Gloucestershire business grows turnover to £480 million

One of Gloucestershire's biggest businesses just got bigger - growing revenue by 10 per cent, but its order book is the big story.

Revealing its figures for the six months to the end of June this year the housing maintenance and care homes specialist saw revenues grow from £435.3 million for the same period in 2018 to £480.8 million.

Profit before tax was down three per cent to £12.5 million, but the Gloucester-headquartered firm's order book grew by 43 per cent to £3 billion (2018: £2.1bn).

David Miles, chief executive officer, Mears, said: "I am satisfied with the progress made in the first half of 2019. Our financial and market position is robust as we seek to build on existing strengths and take advantage of new opportunities.

"The board is confident of making further progress for the full year and over the longer-term.

"The board remains confident of delivering its expectations for the full year, in line with previous guidance."

Apparently the order book reflected "a successful period of bidding wins, including the one-off impact of the Asylum Accommodation and Support Services Contract ('AASC'), augmented by the acquisition of MPS".

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