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Trading statements

Mears Group sees FY EBITDA in line with its views

17 November 2015 07:47

Mears Group continues to deliver a solid trading performance. At a group level, directors expect earnings, before exceptional items, to be in line with the company's expectations for FY 2015.

"We are particularly pleased with the performance of our Social Housing division, which accounts for 80% of Group revenues and is seeing a solid pipeline of opportunities," the company said.

"This strong performance has offset a more challenging environment within Care.

"Mears has visibility of consensus forecast revenues of 97% for 2015; whilst this is slightly lower than anticipated, the stronger Social Housing margin is expected to compensate for any revenue shortfall.

"The visibility of consensus forecast revenue for 2016 of 88% is ahead of recent years, reflecting the strong progress made."

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