Mears Regulatory News (MER)

10 Jan 2007 07:00

Mears Group PLC10 January 2007 MEARS GROUP PLC Trading update Wednesday 10th January 2007 The Board is pleased to announce that the trading results for the year ended 31 December 2006 will be at the upper end of market expectations. Since ourinterim announcement in August 2006 we have secured a number of significantcontract awards with a total value in excess of £100m. These contracts includeBrighton & Hove City Council and Bedfordshire Pilgrims HA. The order book remains at over £1 Billion and the Group continues to enjoy ahealthy pipeline of both outstanding tenders and future opportunities. 94% ofthe market consensus turnover for 2007 has already been contracted to the Groupand some 84% of the 2008 projection is secured. Cash collection has remained strong and combined with a sound balance sheet thisprovides a very stable platform for predictable future growth. We continue toseek quality businesses with the potential to help us further our strategicobjectives and improve or broaden our services. The Directors remain confident in the future prospects for the Group. For further information, please contact: Bob Holt, Chairman 07778 798 816 Stuart Black, Chief Executive 07971 151 320 David Robertson, Finance Director 07887 705 357 This information is provided by RNS The company news service from the London Stock Exchange