Mears Regulatory News (MER)

3 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