Social housing and maintenance contractor also announces new contract at 2012 Olympics Athletes Village
Mears, the social housing repairs and maintenance contractor, has announced a 14% jump in revenue during the first six months of 2009.
Turnover at the firm rose to £232.7m from £203.3m the year before. Operating profits hit double figures, rising to £10.8m when compared with £9.1m in the first half of last year. However, the profits do not take into account the acquisition in January this year of 3C Asset Management.
The firm’s revenue was buoyed by the strong performance of its social housing division, which saw its turnover rise 30% to £176m, up from £134.9m last year.
Mears was also able to announce the win of an M&E infrastructure and fit-out works on the Athletes Village for the 2012 Olympics on the same day as its half-year results. The £9m contract comprises the first 300-unit phase of the village.
Bob Holt, chief executive of Mears, said: “Our order book stands at £1.8bn and the demand for our services continues to be strong. With a number of particularly exciting opportunities within the bid pipeline, I have significant confidence for the future.”