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Mears Group PLC (MER)

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Monday 18 August, 2008

Mears Group PLC

New Contract Wins

RNS Number : 4916B
Mears Group PLC
18 August 2008
 



18 August 2008

Mears Group PLC

('Mears Group')


£57 million of new contract wins for Social Housing Division


Mears Group is pleased to announce that it has been awarded two new social housing contract awards amounting to £57 million. This brings the total aggregate contract awards in the six months since we announced our preliminary results to over £400m.


Octavia Housing and Care 

A 10-year partnership with Octavia Housing and Carebased in Central London, to provide repairs and void services. The contract is valued at £36 million for the 10-year period. The contract is due to commence in October 2008



Old Ford Housing Association 

A 10-year partnership with Old Ford to provide responsive repairs and voids services. The contract is valued at £21 million for the 10-year period. Old Ford is one of seven Group partners within the Circle Anglia Group which has a housing stock of over 27,000 properties and is one of the largest housing associations in the UK. Since the start of this year, Mears has now entered into partnership arrangements with four of the seven Circle Anglia Group partners. 


Commenting, Bob Holt, Chief Executive of Mears Group, said:
“We would not achieve these levels of contract wins without the great references that we get from our existing clients. Our strategy, based upon long term partnerships, delivering customer excellence, innovation and investment in our people, continues to be the driver behind winning good quality contracts that provide clear and sustainable margins.Our order book stands at £1.7 billion and the visibility of future revenues has been further enhanced.”

www.mearsgroup.co.uk


Mears (LSE ticker: MER.L) is a leading provider of outsourced services to the public sector. The Group operates across two core divisions, that of Social Housing and Domiciliary Care. The Social Housing division provides rapid response and planned maintenance to Local Authorities and Registered Social Landlords in the UK, and is also a provider of building services for capital improvement works such as the Decent Homes programme, which aims to ensure all social housing meets set standards of decency. The Domiciliary Care division provides support to people, who remain in their own homes, through the provision of personal care services which are delivered principally as part of outsourcing arrangements with Local Authorities. 


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Enquiries:

Mears Group PLC 

Bob Holt, Chief Executive
Tel: 07778 798 816 

Andrew Smith, Finance Director

Tel: 07712 866 461   

Threadneedle Communications 
Trevor Bass/Alex White
Tel: 020 7936 9666 

Joint Broker to Mears Group PLC - Investec 
Keith Anderson/Daniel Adams

Tel:020 7597 5970 

Joint Broker to Mears Group PLC - Arbuthnot Securities 
Mark Brown/Richard Tulloch

Tel:020 7012 2150 

Hansard Group 
John Bick

Tel: 07872 061007



This information is provided by RNS
The company news service from the London Stock Exchange
 
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