Mears’ turnover rises 26 per cent
Repairs and maintenance firm Mears increased its social housing revenue by 26 per cent last year, its preliminary results have shown.
Mears Group saw the turnover of its social housing division jump by 26 per cent to £355 million in 2009.
The group said it has bids in for £3.9 billion of work, compared with £2.8 billion at the same point in 2008, and expects there to be ‘unprecedented levels of opportunity in the public sector’.
Chairman Bob Holt said spend in its social housing market is ‘largely non-discretionary and is therefore unlikely to be affected by any public sector cutbacks’.
He added: ‘It should also be noted that a significant proportion of our social housing revenue is derived from housing associations who would be less affected by a reduction in public sector spending.’
*An earlier version of this article was headlined Mears’ profits rise 26 per cent. We are happy to clarify that it was the turnover of its social housing division that increased by that figure.