Group bullish after landing deals with councils

Mears Group has secured social housing contracts worth £156m in the past two months, according to a pre-close trading update released today.

The £156m contract wins included a three-year £60m deal for Gateshead council and a five-year £40m contract for Tamworth council.

In a bullish statement, chief executive David Miles added the group was also ramping up its operations to take on £50m of contracts on or around 1 April.

Miles said: “The first quarter of 2012 will see the most intense period of new contract mobilisation in our history with five significant new contracts due to start on or around 1 April 2012 with an annual value of £50m.”