Social housing repairs firm reveals £1.8bn order book at end of bumper year
Social housing repairs and maintenance provider Mears Group says contract wins and its current order book level made 2009 a record year for the company.
Last year, the group revealed new contract wins in excess of £550m, which it said could rise to in excess of £650m, subject to contract extensions.
The company's forward order book now stands at £1.8bn. It said the bid pipeline remained strong and that the group was now at advanced stages of negotiating further “significant opportunities”.
Bob Holt, chairman of Mears, said: “The demand for our services has never been stronger. Our two growth markets, social Housing and domiciliary care, which together account for approaching 90% of group revenues, are defensive markets where spend is largely non-discretionary and afford us substantial immunity from bad debts. Moreover as a result of our quality partnership relationships with public sector customers, we have not experienced any work delays in the areas in which we operate".