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Mears - Wins £100m in new contracts

February 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MER
  • Price:
  • 351p
Social housing maintenance firm Mears has announced that results for the year ended 31 December will be at the upper end of market expectations. Since August it has won several new contracts with a total value in excess of £100m, while the order book remains at over £1bn, with the group continuing to enjoy a healthy pipeline of tenders and opportunities. Mears also noted that 94% of forecast turnover for 2007 and 84% of 2008 is secured. The shares have surged to a new high of 365p and are now 28% ahead of our main recommendation price in October ’05. Take a part profit. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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