3rd Jun 2009 07:00
Embargoed Release: 07:00hrs Wednesday 3 June 2009
Mears Group PLC
("Mears" or "the Group")
AGM Statement
At the Company's Annual General Meeting to be held today at 12.00 p.m. at 2 Gresham Street, London EC2V 7QP, the Chairman will make the following update:
Mears is pleased to report that the trends referred to in the Group's Interim Management Statement ("IMS") announced on 28 April 2009 are continuing. The Group is performing strongly, has excellent visibility in the order book for the current year and next and a growing bid pipeline where the Board believes Mears will benefit from the continued evolution in both the Social Housing and Domiciliary Care markets.
Mears issued its IMS on 28 April which highlighted strong trading across all the Group's divisions including;
Over £100 million of new contracts since announcing preliminary results;
Cash conversion is strong with continued improvement; and
Integration of the 3C acquisition is on track.
-Ends-
About Mears www.mearsgroup.co.uk
Mears is a leading social housing repairs and maintenance service provider to Local Authorities and Registered Social Housing Landlords in the UK and has a growing presence in the domiciliary care market, providing personal care services to people in their own homes delivered as part of outsourcing arrangements with Local Authorities.
Mears employs in excess of 8,000 people and provides maintenance and repairs services to 500,000 homes nationwide. Mears also provides over 85,000 hours of domiciliary care to 13,000 service users each week
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Enquiries: |
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Mears Group PLC |
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Bob Holt, Chief Executive |
Tel: +44(0)7778 798 816 |
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Andrew Smith, Finance Director |
Tel: +44(0)7712 866 461 |
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Joint Broker - Investec |
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Keith Anderson/Daniel Adams |
Tel: +44(0)20 7597 5970 |
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Joint Broker - Collins Stewart |
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Mark Dickenson/Piers Coombs |
Tel: +44(0)20 7523 8350 |
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Financial PR - Mears Group |
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Threadneedle Communications |
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Trevor Bass/Alex White |
Tel: +44(0)20 7936 9666 |
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Hansard Group |
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John Bick |
Tel: +44(0)7872 061007 |
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