Mears wins new contracts worth £120m

Grant Prior 11 years ago

Mears has secured new contracts worth £120m since March including a major £52m repair and maintenance job for Bedfordshire Pilgrims Housing Association over the next ten years.

In a trading statement to the City today, Mears spelled-out a string of recent successes which have boosted the firm’s order book to £2.7bn with 93% of this year’s target revenue already secured.

Other recent wins include:

o   Additional repair and maintenance contracts totalling £30m over an average of 4 year terms, including Dover District Council and Leeds City Council

o   First in-sourcing solutions contract with Epping Forest District Council to provide support to their Direct Labour Organisation

o  Several new Domiciliary Care contracts ranging from two to five years in duration with an estimated aggregate value of £37m over their lifetime

o  A £4m, three year contract for the Home Improvement Agency service provided by Gloucestershire County Council.

David Miles, Chief Executive, Mears Group, said: “We continue to see high levels of opportunity within the public sector.

“We believe that the demand and opportunity for our two growth markets will continue to be strong and that Mears is well placed to benefit.

“Our Social Housing division will continue to focus on further organic growth.

“The continuing consolidation in Registered Social Landlords, the reforms to the Housing Finance system and changing demographics, all continue to provide increasing opportunities for Mears.

“The partnership with British Gas also demonstrates our leadership in providing solutions for our clients in the context of the Green Agenda.

“Mears Care is well placed to lead and consolidate the Domiciliary Care market place which is some 10 years behind the more developed Social Housing market.

“We can use the experience gained in Social Housing to enhance the market efficiencies in Domiciliary Care and share the benefits with our clients.

“We continue to target acquisitions that will broaden the diversity of Mears’ Domiciliary Care offering along the services supply chain and expand the range of services provided to people in their homes.

“Most importantly, we have the right management team in place to take our business forward and capitalise on the many opportunities available in our growth markets.”

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