Strong recovery for Gloucester headquartered housing services provider

Mears Group

Gloucester-based Mears Group PLC, which provides services to the UK’s housing sector, has reported a strong recovery in its latest interim results. 

Revenues for the first half of the year were £443.7M, up from £396.7M in the same period last year and the company returned to profit, reporting a £5.7M profit.

David Miles, Chief Executive Officer of the Group, said: “The Group has performed well and traded resiliently through another lock-down impacted reporting period. With the cash performance continuing to exceed expectations as trading conditions normalise, we are delighted to be able to restore Mears’ long history of sustainable, progressive dividend payments.

“The business is in good shape and with the long-term challenges of affordable housing, public health and climate change high on the political agenda at local and central Government, we look forward to future growth with confidence.”

Mears currently employs around 6,000 people and provides services in every region of the UK. It maintains, repairs and upgrades the homes of hundreds of thousands of people in communities from remote rural villages to large inner-city estates. Mears has extended its activities to provide broader housing solutions to solve the challenge posed by the lack of affordable housing and to provide accommodation and support for the most vulnerable. 

Last year the company was included in The Sunday Times’ “25 best big companies to work for”