16th Jun 2023 08:35
Mears Group PLC - Gloucester, England-based housing and social care provider - Says it has seen strong trading in the first five months of its financial year, with "continued elevated revenues, improving operating margins and excellent cash performance". As a result of this "continued strong momentum", the board expects full year profits to be materially ahead of current market expectations. It didn't specify what these were.
For 2022, Mears reported revenue of GBP959.6 million, up from GBP878.4 million. Pretax profit more than doubled to GBP34.9 million from GBP16.3 million.
Mears is scheduled to release its interim results for the six months to June 30 on August 3.
Current stock price: 280.00 pence each, up 6.8% in London on Friday morning
12-month change: up 44%
By Holly Beveridge, Alliance News reporter
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