Last checked at 4 Jun 2014 07:00
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: +44(0)7778 220 185
Andrew Smith, Finance Director Tel: +44(0)7712 866 461
Bob Holt, Chairman Tel: +44(0)7778 798 816
Alan Long, Executive Director Tel: +44(0)7979 966 453
www.mearsgroup.co.uk
Buchanan
Richard Darby, Sophie McNulty, Sophie Cowles Tel: +44(0)20 7466 5000
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.