LONDON (ShareCast) - - On track to meet full-year targets
- Strong revenue visibility, order book and the bid pipeline
- Extended its existing revolving credit facility

Housing repairs and maintenance provider Mears said it expects results for the full year to December 31st 2013 to be in line with management expectations.

The group added that revenue visibility, order book and the bid pipeline all remain strong.

Mears also expects a strong cash performance.

The current order book stands at £3.8bn and the bid pipeline remains at £3.0bn. It has 90% visibility on revenue forecast for 2014 from continuing operations of £911m.

Chief Executive David Miles said: "Revenue visibility, order book and the bid pipeline all remain strong. The UK Care market is going through a period of significant change and I am proud of the robust business we have established. Mears will continue to be at the forefront of change in the sector in 2014 and beyond."

Mears said it has extended its existing revolving credit facility of £120m by a further 2 years to July 2018.




CJ

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