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Gloucestershire Business News

'Robust trading' continues for Mears

Gloucester-based social care provider Mears Group said that the "positive trends and robust trading" seen during the first four months of its financial year have continued.

Mears revealed that revenues were ahead of forecasts, with an improved operating margin, and it had sustained higher levels of activity for management-led activities.

The firm, which is headquartered at Gloucester Business Park in Brockworth, added that its order book had also strengthened during the period, with it now seeing "significant opportunities" for organic growth.

Mears also said it had an average daily net positive cash position throughout the six months to June 30.

Chief executive David Miles said: "Trading in the first half has been excellent across the group and this will be reflected in a strong set of interim numbers in August.

"This trading performance is a result of the strategic actions undertaken in recent years, a streamlining of the business, and our resilient operating platform. Our long track record for quality and operating excellence ensures that we are seeing an increasing range of opportunities from new and existing clients.

"The strong defensive nature of the Mears business means we are looking to the future with significant optimism notwithstanding what is clearly a challenging economic period for the UK.

"The momentum carried over from the first six months of trading gives the Board further confidence in the delivery of our full-year expectations."

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