Mears Group Reports Strong FY24 Performance and Strategic Progress

Mears Group Plc ( (GB:MER) ) has shared an update.

Mears Group PLC reported strong progress in its FY24 trading update, with operating margins improving and contract volumes stabilizing. The company successfully mobilized a large contract with North Lanarkshire Council and retained all contracts subject to re-bid, securing a new contract with Moat Homes. Additionally, Mears executed a property sale and leaseback transaction to enhance service offerings, while continuing its capital allocation strategy through share buybacks. These developments reinforce Mears’ robust market position and strategic focus on long-term growth opportunities in its core markets.

More about Mears Group Plc

Mears Group PLC is a leading service provider in the UK housing sector, managing and maintaining approximately 450,000 homes across the country. The company collaborates mainly with Central and Local Government through long-term contracts to provide property management, maintenance services, and broader housing solutions, focusing on long-term outcomes to address affordable housing challenges and support vulnerable populations.

YTD Price Performance: -2.76%

Average Trading Volume: 247,341

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £311.6M

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