Results will be in line with expectations, says social housing maintenance group
Social housing repair and maintenance group Mears has said that results in 2008 will be in line with expectations.
A company statement said: “Mears has two principal growth engines, social housing and domiciliary care, which have performed strongly during the year and have grown in line with the board's strategy to build market leading positions in these two high growth and highly defensive markets.”
One consensus forecast estimates a pre-tax profit of £20m on turnover of £410m.
The UK company also said it has entered 2009 with a strong balance sheet and low gearing (the ratio of equity to debt) and will continue to benefit from strong cash flow.
Chief executive Bob Holt said: “We have already secured 81% of the group's consensus forecast revenues for 2009 and our forward order book stands at £1.6bn. We continue to see strong forward demand for our services with good levels of activity in new contract bidding.”