AGM Statement

RNS Number : 7618I

Mears Group PLC

04 June 2014

 

FOR IMMEDIATE RELEASE

4 June 2014

Mears Group PLC

("Mears" or "the Group" or "the Company")

AGM Statement

Mears Group PLC (LSE: MER), the provider of services to the Social Housing and Care sectors in the UK, will hold the Company's Annual General Meeting at 9.30a.m., today during which the Chairman will make the following statement:

"Mears issued its Interim Management Statement on 19 May 2014 which highlighted the following:

·      Mears continued to deliver solid trading across both core divisions in line with management expectations.

·      Mears had secured new contract awards since 1 January 2014 of in excess of £110 million. The Group had achieved 94% visibility of the £908 million consensus revenue forecast for 2014 and 72% visibility of the £960 million consensus revenue forecast for 2015. The order book stood at £3.8 billion with a bid pipeline of £3.0 billion

·      Mears continued to benefit from a strong balance sheet and a strong focus on working capital management.

I am pleased to announce that the positive trends referred to in the May statement are continuing."

For further information, contact:

Mears Group PLC

David Miles, Chief Executive                                                             Tel: [phone]

Andrew Smith, Finance Director                                                       Tel: [phone]

Bob Holt, Chairman                                                                            Tel: [phone]

Alan Long, Executive Director                                                           Tel: [phone]

www.mearsgroup.co.uk

Buchanan

Richard Darby, Sophie McNulty, Sophie Cowles                           Tel: [phone]

www.buchanan.uk.com

Notes for editors

Mears is a leading social housing repairs and maintenance service provider to Local Authorities and Registered Social Landlords in the UK and now commands a leading position in the UK Local Authorities' outsourced care market, providing personal care services to people in their own homes.

Mears employs in excess of 15,000 people and provides maintenance and repairs services to in excess of 10% of the UK social housing stock. Mears also provides care to over 20,000 service users.

 

END

 

 

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