Mears' social housing business going strong
Mears has today announced strong social housing revenues after starting eight new contracts since the start of the year.
The repairs and maintenance contractor, in an interim management statement for the period from 1 January until today, said it has already achieved its forecast revenues from its social housing operations for the year.
Mears has started eight new social housing contracts, which the company describes as its ‘most intense period of new contract mobilisation in the group’s history’. The company says it expects a solid operating margin from social housing despite contract mobilisation costs and loss of revenues from the completion of works under the decent homes programme.
Overall the company reported an order book of £2.8 billion and a bid pipeline of more than £3 billion.
David Miles, chief executive of Mears, said: ‘Our social housing business has long been recognised as the market leader in terms of operational performance and tenant satisfaction.
‘We have demonstrated our ability to embrace change and adapt to the challenges that the current economic environment continues to present. Mears’ positive momentum positions us well to benefit from an active contract bidding market. I remain confident in the prospects for the future growth of the group.’