Last checked at 28 Feb 2022 07:00
28 February 2022
Mears Group PLC
(the "Group" or the "Company")
Contract award - Residential Living Accommodation Project
Mears (LSE: MER), the leading provider of services to the UK Housing sector, is delighted to announce that it has been awarded the new Residential Living Accommodation Project ("RLAP") contract, providing a wide range of housing services to the Defence Infrastructure Organisation ("DIO"). The award is subject to contract and the successful completion of a standstill period.
The new contract is for a period of up to seven years and has an annual value in excess of £50 million. Under the contract, Mears will provide a wide range of accommodation and property services to service personnel and their families across the UK. Services include property search, selection and leasing, relocation services, tenancy management, responsive repairs and maintenance. The new contract is expected to commence in April 2022.
Mears has been successfully providing similar services since 2016 under the predecessor Substitute Service Accommodation contract, delivering a high level of service and operational delivery, which has contributed to this successful rebid.
David Miles, Chief Executive Officer of the Group, commented:
"We are proud of the role we play within the UK's Defence Infrastructure Organisation. With this contract award we can continue to provide the highest levels of service to these key personnel and their families and value for money to the DIO. Our operating and quality KPIs on this project have been excellent and this has clearly contributed to our successful rebid. Together with our contracts with the Home Office and the Ministry of Justice, today's successful award underlines that Mears is recognised as a trusted partner for specialist housing management services across Central Government departments. This award puts the Group in an excellent position for 2022 and beyond."
Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information, contact:
Mears Group PLC
David Miles, Chief Executive Officer |
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Andrew Smith, Finance Director |
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Alan Long, Executive Director |
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Joe Thompson, Investor Relations | Tel: +44(0)7980 844 580 |
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Novella Communications |
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Tim Robertson | Tel: +44 (0) 203 151 7008 |
Claire de Groot |
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www.mearsgroup.co.uk |
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About Mears
Mears currently employs around 5,500 people and provides services in every region of the UK. In partnership with our Housing clients, we maintain, repair and upgrade the homes of hundreds of thousands of people in communities from remote rural villages to large inner-city estates. Mears has extended its activities to provide broader housing solutions to solve the challenge posed by the lack of affordable housing and to provide accommodation and support for the most vulnerable.
We focus on long-term outcomes for people rather than short-term solutions and invest in innovations that have a positive impact on people's quality of life and on their communities' social, economic and environmental wellbeing. Our innovative approaches and market leading positions are intended to create value for our customers and the people they serve while also driving sustainable financial returns for our providers of capital, especially our shareholders.