Firm says maintenance workloads jumped 10% last year
Mears has said its turnover and adjusted pre-tax profit will be at the “top end” of market guidance following “strong trading” in the second half of 2025.
In a trading update this morning, the repairs and maintenance contractor, said it will report maintenance-led turnover of £610m for last year, a 10% rise on 2024.
Mears said the growth includes a full year of income from new contracts with North Lanarkshire Council and Moat Homes, along with a near 100% retention rate.
But the rise was offset by a drop of £77m in ‘management-led revenue’ to £500m due to a reduction in asylum accommodation contract income.
Mears said reported total turnover is expected to be around £1.1bn – a similar figure to the previous year – in line with guidance, while pre-tax profit will be £60m.
In September it acquired surveyor and consultancy Pennington Choices which the contractor said has allowed it to create new business opportunities.
Last month, it signed a 10-year, £250m contract with housing association Cross Keys Homes to deliver responsive and void repairs, gas compliance and planned maintenance.
Mears will unveil its 2025 results on 26 March.
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