Business
Stmnt re Share Price Movement
Stmnt re Share Price Movement.
About this update from Mears Group Plc
[{"type":"text","content":"\n RNS Number : 3064O Mears Group PLC 28 June 2010 \n \n\n \n28 June 2010\nMears Group PLC\n(\"Mears\" or \"the Company\" or \"the Group\")\n \nFurther Response re: Price Movement\n \nFollowing the brief statement made by Mears after the market closed on Friday 25 June the Company is pleased to reiterate that it is continuing to deliver strong trading across all divisions and is not experiencing any downward pressure on spend in its social housing business. Current trading and strong cash conversion for the year are in line with management expectations.\n \nIn summary:\n \n· Continuing to deliver strong trading across all divisions\n· No evidence or experience of downward pressure in spending in social housing which remains a largely secure and non-discretionary spend\n· £2.5 billion order book and £3 billion bid pipeline\n· Winning longer term agreements with Local Authorities and RSLs\n· Secured revenues of 91% of consensus forecast for the current year\n· Strong focus on cash conversion.\n \nCommenting, Bob Holt, Chairman of Mears Group, said:\n\"I believe that Mears will now be considered market leader in social housing repair and maintenance which will add further to an already unprecedented level of opportunity within the public sector. Local Authority clients continue to consider more innovative and higher scale partnerships which is already evidenced this year with major contract wins.\n \n\"The quality of our operational delivery and our people underpins our strategy and continues to give us clear competitive advantage as evidenced by our enhanced reputation both in terms of the winning of new business and the recruitment and retention of key personnel. These factors are central in maintaining a robust revenue stream with our existing client base whilst providing significant opportunity within our bid pipeline.\"\n \nends.\n \nAbout Mears www.mearsgroup.co.uk (tickers: MER.L MER.LN ...