Gloucester's Mears Group sees strong trading in first half

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Giles Gwinnett

Mears Group, the Gloucester headquartered housing services provider, told investors it had seen strong trading in the first half and expects its result for the full year to be "modestly ahead" of market expectations.

The current consensus analyst forecasts for the year to end-December are revenues of £999 million and profit before tax of £46.7 million.

"Trading in the first half has been excellent across the group and this will be reflected in a strong set of interim numbers in August," said Lucas Critchley, the CEO of the group.

"We have made good progress in the first-half, with a focus on developing and broadening the range of services we offer to clients.

"In addition, an increased operational focus, making fuller use of the group's IT system capabilities, is resulting in operational and commercial improvements, and is reflected in the continued progress in operating margins."

The company manages and maintains around 450,000 homes across the UK and works mainly with central government and local government, typically through long-term contracts.

It employs over 5,000 people and provides services in every region of the UK.

Giles Gwinnett

Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.