Trading update for social housing repairs firm shows order book worth £1.7bn

Mear the social housing repairs and maintenance provider, has said demand for its services has “never been stronger.”

In a trading update, the firm said it had received contract awards above £450m since 10 March and had an order book worth £1.7bn.

Mears said its social housing and domiciliary care accounted for 90% of group revenues and were highly “defensive” since spending in the areas was largely non-discretionary. The sectors offer “substantial immunity from bad debts", according to the firm.

Mears said it had a strong balance sheet with low gearing and gave the firm significant flexibility to take advantage of “acquisition opportunities.”