Mears Regulatory News (MER)

17 Jan 2006 07:00

Mears Group PLC17 January 2006 MEARS GROUP PLC Trading update Tuesday 17th January 2006 The Board is pleased to announce that the trading results for the year ended31 December 2005 will be at the upper end of market expectations. Since our last announcement we have secured four new contract awards with LeedsCity Homes, Kensington Housing Trust, London Borough of Greenwich and the LondonBorough of Kingston upon Thames. The order book is now in excess of £1billion and the Group continues to enjoy ahealthy pipeline of both outstanding tenders and future opportunities. Asubstantial amount of the turnover for the next 2 to 3 years has already beencontracted to the Group. Cash collection has been strong and combined with a sound balance sheet thisprovides a very stable platform for predictable future growth. The Directors remain confident in the future prospects for the Group. Contact: Bob Holt (Chairman) Tel: 07778 798816Stuart J. Black (CEO) Tel: 07971 151320David J. Robertson (FD) Tel: 07887 705357Trevor Bass/Alex White (WSSM) Tel: 020 7067 0743 Notes to Editor: - Mears Group PLC is the leading provider of a range of services to social landlords.- The services provided include response maintenance, void refurbishment, planned preventative maintenance, improvements to meet the "Decent Homes Standard" and estate management.- Profits have shown an annual compound growth rate of 43% since Mears was listed on the Alternative Investment Market ("AIM") in October 1996. The Group was awarded the AIM Company of the Year Award in 2003.- The Mears mission is to be the market leader in transforming the social housing environment, improving homes, improving neighbourhoods and improving lives. Further information is available on our website www.mearsgroup.co.uk End This information is provided by RNS The company news service from the London Stock Exchange