Business
Contract Wins
Contract Wins.
About this update from Mears Group Plc
[{"type":"text","content":"\n RNS Number : 1395V Mears Group PLC 06 July 2009 \n \n6 July 2009\nMears Group PLC\n('Mears' or 'the Group')\n\nNew Contract Update - £70m of wins for\nSocial Housing and Domiciliary Care divisions\n\nMears is pleased to announce the award of a further £70m of new contracts across both of its core divisions with options to increase the total to £90 million. This takes the total of new contracts awarded in the current year to £175 million.\n\nCommenting, Bob Holt, Chief Executive of Mears Group, said:\n'The level of opportunities have never been stronger both for our Social Housing division where we continue to build substantial organic growth and in our Care division where we have doubled revenues and profits since we entered this market just two years ago and have a very strong platform from which to build significant growth both organically and by further acquisitions.\n\nThe Group enjoys a significant pipeline of contract bids where we continue to benefit from our partnership strategy which is committed to delivering a value for money quality service offering which provides very high tenant satisfaction. This is reflected in our ratings with customers who are progressively focusing on value and delivery of service rather than price alone. \n\nMears is not experiencing and does not anticipate a slowdown in either opportunities to grow or in public sector spending in our two primary offerings which is also reinforced by recent comments by the UK government relating to increased spending. I look forward to be able to announce other significant contract awards in the not too distant future.'\n\nSocial Housing - awarded £64 million of new contracts with options for a further £20 million.\n\nSedgefield Borough Homes\nMears has been awarded a 5-year partnership, subject to normal completion procedures, with Sedgefield Borough Homes carrying out Decent Homes services. The Group is one of two partners appointed and the contract value to Mears is £32 million. Sedgefield Borough Homes is an existing client of the Group and Mears is delighted to extend the range o...