RE: Confident25 Nov 2021 11:06
So, trading update surprised me but I saw MER was highest riser on my watchlist today so I checked the RNS feed. The update is very positive and progress augurs well for the future. Debt reduced, profit at top end of forecasts, results beat expectations and divvies are back. Good to see the CEO used the "confident" word too. I expect the markets will have another look at Mears and see that the current SP is significantly undervalued with a strong order book going forward. Ignore the deramping troll who told us to sell at 152 last year.
David Miles, Chief Executive Officer of the Group, commented:
"I am delighted at the strong financial performance of the Group and the business remains firmly on track to deliver revenues and adjusted profit before tax for the full financial year at the top end of our previous guidance."
"With these fundamentals of our business in such good shape and the long-term challenges of affordable housing, public health and climate change high on the political agenda at local and central Government, we look forward to the future with confidence."