New Contract Wins

RNS Number : 4916B

Mears Group PLC

18 August 2008

 



18 August 2008

Mears Group PLC

('Mears Group')

£57 million of new contract wins for Social Housing Division

Mears Group is pleased to announce that it has been awarded two new social housing contract awards amounting to £57 million. This brings the total aggregate contract awards in the six months since we announced our preliminary results to over £400m.

Octavia Housing and Care 

A 10-year partnership with Octavia Housing and Care, based in Central London, to provide repairs and void services. The contract is valued at £36 million for the 10-year period. The contract is due to commence in October 2008

Old Ford Housing Association 

A 10-year partnership with Old Ford to provide responsive repairs and voids services. The contract is valued at £21 million for the 10-year period. Old Ford is one of seven Group partners within the Circle Anglia Group which has a housing stock of over 27,000 properties and is one of the largest housing associations in the UK. Since the start of this year, Mears has now entered into partnership arrangements with four of the seven Circle Anglia Group partners. 

Commenting, Bob Holt, Chief Executive of Mears Group, said:

“We would not achieve these levels of contract wins without the great references that we get from our existing clients. Our strategy, based upon long term partnerships, delivering customer excellence, innovation and investment in our people, continues to be the driver behind winning good quality contracts that provide clear and sustainable margins.Our order book stands at £1.7 billion and the visibility of future revenues has been further enhanced.”

www.mearsgroup.co.uk

Mears (LSE ticker: MER.L) is a leading provider of outsourced services to the public sector. The Group operates across two core divisions, that of Social Housing and Domiciliary Care. The Social Housing division provides rapid response and planned maintenance to Local Authorities and Registered Social Landlords in the UK, and is also a provider of building services for capital improvement works such as the Decent Homes programme, which aims to ensure all social housing meets set standards of decency. The Domiciliary Care division provides support to people, who remain in their own homes, through the provision of personal care services which are delivered principally as part of outsourcing arrangements with Local Authorities. 

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Enquiries:

Mears Group PLC 

Bob Holt, Chief Executive
Tel: [phone] 
Andrew Smith, Finance Director
Tel: [phone]   

Threadneedle Communications 
Trevor Bass/Alex White
Tel: [phone] 

Joint Broker to Mears Group PLC - Investec 
Keith Anderson/Daniel Adams
Tel:[phone] 

Joint Broker to Mears Group PLC - Arbuthnot Securities 
Mark Brown/Richard Tulloch
Tel:[phone] 

Hansard Group 
John Bick
Tel: [phone]

 

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