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Mears - Trading conditions still buoyant

October 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.

The buoyant trading conditions which Mears alluded to at its AGM have continued with interim results for the six months ended 30 June showing pretax profit increasing 23% to £5.3m, from turnover up 22.5% to £118m. Earnings increased nearly 25% to 6.17p. In spite of spending £2.2m on the acquisition of social housing maintenance firm Laidlaw Scott, net cash increased from £6.9m to £8.3m. Mears’ growth was boosted by the mobilisation of four key contracts, the London Borough of Greenwich and Nottingham City Homes (both Decent Homes contracts) and Portsmouth City council and Kensington Housing Trust (repair and maintenance). In the light of the government’s continued financial support of its ...

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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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