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Mears

June 2024

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:
  • 387p
The shares hit new highs towards £4 after finals beat even recently upgraded expectations. The company, one of the largest providers of planned and rapid response maintenance to over one million social homes, posted revenues up 14% to £1,089m (£40m ahead of guidance) with pretax profit increasing 34% to £46.9m (guidance: £43m). Cash conversion was strong and, in spite of £22m on acquisitions and almost £47m on buybacks (cancelling 11% of shares issued) and dividends, net cash increased £98m to £109m. Mears achieved £175m new contract awards with an impressive and increased  bid conversion rate of 70%. New work opportunities were secured with Home Office, the MoD and the MoJ while it’s well-placed to win the new North Lanarkshire c ...

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Related Articles

Mears - Potential beneficiary of Labour’s focus on social housing (August 2024)
Mears - Wins £125m contract (July 2024)
Mears (March 2024)
Mears (October 2023)
Mears - Social housing repairs contractor lifts forecasts (August 2023)
Mears (December 2014)
Mears (November 2014)
Mears - £110m of new contract awards (July 2014)
Mears - Social housing maintenance group has £15.bn bid pipeline (May 2014)
Mears - Social housing maintenance firm sees order book expand to £2.5bn (June 2010)
Mears - Wins £100m in new contracts (February 2007)
Mears - Trading conditions still buoyant (October 2006)
Mears - Buoyant trading continues (August 2006)
Mears - Shrugs off director selling (May 2006)
Mears - Social housing maintenance firm's order book surges towards £1bn (October 2005)

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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