Moat Homes agree £200m repairs contract

Lucas Critchley, chief executive officer at Mears, said: “I am pleased to see continuing strong momentum with a further important contract win.

“Securing this long-term contract with Moat reflects the strength of our operational performance and our disciplined, sustainable approach to bidding new work.

“I am delighted that we will be working with Moat for the long term, who are very much a like-minded client, and I look forward to bringing the strength of the group’s continually broadening service offer to bear to deliver a great service to Moat and their customers.”

Mears previously had a 12-year relationship with Moat that concluded in 2022, and has been delivering services to Moat since 2024 through an interim appointment.

This award reflects a successful transition to a long-term strategic partnership.

This latest deal comes after Mears revealed earlier this year that its order book reached an “all-time high” of £4bn, as it reported strong growth in its maintenance services throughout 2025.

In its preliminary results for 2025, the housing management firm reported a 12% growth in maintenance-led revenue, to £620.4m, which it said was driven by providers increasing their spending because of increased regulation.

In August 2025, Moat Homes recorded a 40% drop in its annual surplus after net interest costs continued to soar, but completed more homes than last year.

The landlord posted an increase in its operating surplus from £44.6m to £49m, according to its accounts for the year ending in March 2025.

However, the increase was wiped out by net interest costs of £31.4m, up from £26.4m the year before, plus a loss of £5.4m because of the restructuring of some legacy loans and swaps.

It meant the Kent-based housing provider’s pre-tax surplus for the year was £12.2m, down from £20.9m in 2023-24, which was itself a drop of more than 50% from the year before.