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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Mears - Shrugs off director selling

May 2006

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:
  • 303p
The shares have shrugged off the recent heavy selling by Mears’ founder Bob Holt and are now back near all time highs while final results, for the year ended 31 December, have also not harmed sentiment. These showed a 37% increase in pretax profit to £10.3m from a 17% rise in turnover to £203.5m, while diluted earnings were up 35% at 11.4p. Operating margins increased from 4.35 to 5.1%, while the order book now stands at £1 billion, up from £960m six months ago and £815m a year ago. The balance sheet strengthened considerably with net cash increasing by £4.1m to £6.9m. Mears’ core business, which repairs and maintains social housing stock, enjoyed a 37% rise in sales to £ ...

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