Trading Statement
Mears Group PLC has reported strong trading momentum, securing £1.5 billion in new orders from Local Government in the first half of the year and is currently in an intensive contract mobilization period. A new 10-year contract with Rooftop Housing Group, valued at £150 million, will see Mears provide responsive repairs, void refurbishment, planned works, and compliance services to 7,000 units. The Group expects full-year results to be in line with market expectations, which anticipate revenue of £1,038 million and adjusted profit before tax of £50.7 million for FY26. Mears will announce its interim results on August 6, 2026.
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Trading update
Mears Group PLC, the leading provider of services to the Housing sector in the UK, is pleased to confirm that the Group has continued to trade well.
During the first half, the Group secured new orders with Local Government of £1.5bn, and the Group is now in an intensive period of new contract mobilisation, which will continue throughout the second half.
In addition to the previously announced contract wins, the Group is pleased to announce a new contract award from Rooftop Housing Group for the provision of responsive repairs, void refurbishment, planned works and compliance services. The contract has an estimated value of £150m over 10 years and will see the Group deliver services to 7,000 units of housing stock in South Worcestershire and North Gloucestershire.
The Board expects to report results for the full year in line with market expectations1.
Notice of results
The Group will announce its interim results for the six months ended 30 June 2026 on Thursday 6 August 2026.
Note
- Market expectations for FY26 are considered to be revenue and adjusted profit before tax of £1,038m and £50.7m respectively.
Lucas Critchley, Chief Executive Officer, said:
"Mears has continued to make strong progress against its key strategic objectives. The Group continues to deliver growth in its core maintenance activities, having performed strongly through an intensive period of contract rebids, complemented by strategically important new business wins with Birmingham City Council and Rooftop Housing Group. We are well advanced with the integration of the Pennington business, which is already proving to have been an excellent acquisition, accelerating the development of the Mears' Compliance offer, as well as strengthening the Mears provision for long-term, strategic, asset management contracts. We also remain well positioned to deliver additional housing services to Central Government."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.