Year ends strongly for housing services provider Mears Group

Mears Group

Gloucester-based Mears Group PLC, which provides services to the UK’s housing sector, said that the year ended strongly with the Group now expecting to report revenues in excess of £870 million (FY2020: £806 million) and adjusted profit before tax of around £25.5 million for the full financial year. 

This financial performance has been driven by sustained higher volumes of work across the Group. Despite the operational challenges posed by Omicron in December and January, there has been no material impact on activity levels or service quality.

In 2021, despite the challenges of the pandemic, customer service levels have remained high. Integral to this performance was the Mears (MCM) technology platform, which facilitated the transition to and from remote working, both for Mears employees and crucially its clients.

With local and central government determined to improve standards across the housing sector, Mears is benefitting from good momentum in order intake, which the board is confident will deliver further long-term opportunities for the Group. 

David Miles, Chief Executive Officer of the Group, said: “2021 has been a very strong year for the Group, characterised by high levels of operational delivery and customer service, a robust cash position and trading outperformance.

“We are trusted partners to our local and central government clients who increasingly recognise the need for a high quality, housing specialist to help them provide a broad range of housing solutions. With the fundamentals of our business in such good shape and the long-term challenges of affordable housing, public health and climate change high on the political agenda, we believe we are the housing partner of choice and look forward to 2022 and beyond with confidence.”

Note: All full year 2021 figures remain subject to audit.