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Gloucestershire Business News

Revenues on the rise at Mears after strong first half

Gloucester-based housing and social care provider Mears Group has upgraded its full-year outlook, following strong first-half performance.

For the six months to June 30, adjusted pre-tax profit rose 62.7 per cent to £18.1m, and revenues increased 9.3 per cent to £435m.

Chief executive David Miles said: "I'm delighted to report that the trading and operational performance in the first half has been excellent across the group and is reflected in this strong set of interim results.

"Our continued momentum is evidence that our core strategy and resilient operating platform is yielding a market leadership position, which is key to delivering incremental results and positions the group for further sustainable growth."

The group added that full-year revenues were now expected to be ahead of market predictions of £910m.

Adjusted pre-tax profit is also expected to be more than £32 million, up 25 per cent on last years figures.

Mears repairs and maintains more than 700,000 social homes across the UK.

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