Business
Pre-Close Trading Update and
Pre-Close Trading Update and.
About this update from Mears Group Plc
[{"type":"text","content":"\n RNS Number : 3037L Mears Group PLC 08 January 2009 \n \n\nMears Group PLC\n('Mears' or 'the Group')\n\nPre-Close Trading Update\n Strong Trading Across All Divisions\n\nMears is delighted to report that trading for the year ended 31 December 2008 across all divisions was in line with management expectations in what was a difficult year for the British economy.\n\nMears has two principal growth engines, social housing and domiciliary care which have performed strongly during the year and have grown in line with the Board's strategy to build market leading positions in these two high growth and highly defensive markets. \n\nThe Board is also very pleased with the successful achievements during the year in building a care provision alongside the Group's social housing services, where Mears now has partnership arrangements in place with Cross Keys Homes, Wakefield Homes and Circle Anglia to provide a combined care and repair service and the Board anticipates making further progress in this area during 2009.\n\nThe Group has maintained a strong balance sheet and low gearing going into the new financial year and will continue to benefit from strong cash flow.\n\nThe Group will be announcing its preliminary results for the year ended 31 December 2008 on Tuesday 10 March 2009. \n\nCommenting, Bob Holt, Chief Executive of Mears Group, said: \n\n'I am delighted with the progress made across the Group during 2008, particularly with our achievements in building a successful care provision alongside our social housing services. \n\n'We have already secured 81 per cent of the Group's consensus forecast revenues for 2009 and our forward order book stands at £1.6 billion. We continue to see strong forward demand for our services with good levels of activity in new contract bidding. We are confident in the future prospects for the Group.'\n\nends\n\nwww.mearsgroup.co....