Updates

Mears

March 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.

The shares jumped to a new high of 354p after Mears said it expected full year results modestly ahead of market expectations with revenues and adjusted pretax profit of £1,050m and £43m, respectively. Helped by strong cash conversion it ended the year with net cash of c. £105m and average daily cash of £75m, both ahead of expectations, even after distributing £49m in dividends and share purchases. While 2023 benefited from elevated revenues thanks to one-off housing asylum seeking contracts, it now expects 2024 revenues to normalise but encouragingly pretax profit is expected to remain at FY23’s elevated level reflecting “continued margin progression.” Highlighted at 279.5p last August, the shares have gained 22%. I am ...

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Mears - Potential beneficiary of Labour’s focus on social housing (August 2024)

Mears - Wins £125m contract (July 2024)

Mears (June 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 Â£2.5bn (June 2010)

Mears - Wins Â£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 Â£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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X