Social housing service provider also sees 2% rise in profit


Social housing services provider Mears has seen revenue for the first half of the year rise 5%.

In a statement to the city Mears reported revenue of £307m for the six months to 30 June 2012, up from £293m over the same period last year.

The firm also reported a 2% rise in pre-tax profit from £10.9m to £11.1m.

David Miles, chief executive of Mears Group, said: “I am delighted at the progress made by the group in recent months particularly with very strong cash management and new contract mobilisations resulting in a 12% like for like organic growth in our core social housing repair and maintenance operation.”

Mears has commenced seven new contracts with an annual value of over £50m over the past six months. Plus, it has recently secured housing repair and maintenance work for Southwark Council and Notting Hill Housing Trust both of which came from replacing incumbent providers.