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Gloucestershire Business News

Mears Group expects strong year

Gloucester-based housing provider Mears Group has said it remains on track for a strong year.

The business, with its headquarters at Gloucester Business Park, said trading has continued to strengthen since the release of its half-year results in August.

Mears Group now expects to report revenues for the full year to December 31 in the region of £850m, ahead of management expectations.

Pre-tax profits are also expected to reach £25m, which sits at the top end of its previous forecast.

This improved performance is said to have been driven by strong demand in reactive maintenance, as well as a higher volume of management-led contracts.

The Mear Group board added that it was encouraged by recent trading and the growing number of opportunities emerging across the business.

Chief executive David Miles said: I am delighted at the strong financial performance of the group and the business remains firmly on track to deliver revenues and adjusted profit before tax for the full financial year at the top end of our previous guidance.

"We are trusted partners to our clients and our customer and colleague satisfaction data remain at the high levels we demand of ourselves, despite a challenging operating environment.

"With these fundamentals of our business in such good shape and the long-term challenges of affordable housing, public health and climate change high on the political agenda at local and central government, we look forward to the future with confidence."

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