Groups says outlook for social housing remains good

Mears Group has announced a 26% increase in pre-tax profit for the year ending 31 December 2007.

Bob Holt

The social housing repairs and maintenance provider posted a pre-tax profit of £15.5m up from £12.3m the previous year.

Turnover was £304.6m, up 26.2%.

The growing domiciliary care division contributed £28.7m of this growth, which was predominantly generated through nine acquisitions.

Chairman Bob Holt said the outlook for social housing remained good and the company had a forward order book of £1.4bn.

He said: "Our order book is at record levels with a very healthy new business pipeline.

"Government policy, which both embraces investment in communities and ongoing public private sector partnership, continues to generate new opportunities."