14 Sep 2010 12:48
14 September 2010
Mears Group PLC
("Mears" or "the Company" or "the Group")
Update Re: KPMG/Connaught
The Board of Mears notes the recent press coverage of the Connaught situation and the KPMG administration and confirms that the Company has acquired contracts for a nominal sum that provides an opportunity to deliver services to a small number of customers. Discussions with these customers are still ongoing so the Mears Board is not yet in a position to provide clarity on the future revenues which may arise as a result.
A further announcement will be made as and when it is appropriate to do so.
Commenting, Bob Holt, chairman of Mears Group, said:
"This is a sad situation not only for employees but also for subcontractors and the communities that depend on these services. We are pleased to be able to offer our services to those local authorities who found themselves at risk of not providing their tenants with a repairs service."
ends.
| About Mears | www.mearsgroup.co.uk | (tickers: MER.L MER.LN MER.PL) |
Mears is a leading social housing repairs and maintenance service provider to Local Authorities and Registered Social Housing Landlords in the UK and, following the acquisition of Supporta, now commands a leading position in the UK Local Authorities' outsourced domiciliary care market, providing personal care services to people in their own homes.
Mears employs in excess of 11,000 people and provides maintenance and repairs services to 500,000 homes nationwide. Mears also provides over 150,000 hours of domiciliary care to 20,000 service users each week.
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Enquiries:
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| Mears Group PLC | |
| Bob Holt, Chairman | Tel: +44(0)7778 798 816 |
| Andrew Smith, Finance Director | Tel: +44(0)7712 866 461 |
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| Joint Broker - Investec | |
| Keith Anderson/Daniel Adams | Tel: +44(0)20 7597 5970 |
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| Joint Broker - Collins Stewart | |
| Mark Dickenson/Ileana Antypas | Tel: +44(0)20 7523 8350 |
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| PR - Threadneedle Communications | |
| Trevor Bass/Alex White | Tel: +44(0)20 7653 9859 |
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| IR - Hansard Communications | Tel: +44(0)20 7245 1100 |
| John Bick/Kirsty Corcoran | Tel: +44(0)7872 061007 |
Mears (MER)