Mears Group (MER)

Sector:

Support

Index:

FTSE Small Cap

207.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 224.00
  • 52 Week Low: 182.00
  • Currency: UK Pounds
  • Shares Issued: 111.02m
  • Volume: 1,532,656
  • Market Cap: £229.82m
  • RiskGrade: 144

Mears lifts full-year outlook after strong first half

By Michele Maatouk

Date: Thursday 04 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Mears upgraded its full-year outlook on Thursday following a "strong" first-half performance.
In the six months to 30 June, adjusted pre-tax profit rose 62.7% to £18.1m, with revenues up 9.3% at £485m. The company, which provides services to the UK housing sector, lifted its dividend per share by 30% to 3.25p.

Chief executive David Miles said: "I'm delighted to report that the trading and operational performance in the first half has been excellent across the group and is reflected in this strong set of interim results.

"Our continued momentum is evidence that our core strategy and resilient operating platform is yielding a market leadership position, which is key to delivering incremental results and positions the group for further sustainable growth."

Mears said the trading momentum experienced in the first half has continued into the second.

The company said full-year revenues are now expected to be "materially ahead" of current market consensus, being in excess of £910m. Meanwhile, adjusted pre-tax profit is expected to be "at least" £32m, representing 25% growth on the prior year. Broker Numis said this is around 12% ahead of market consensus of £28.6m.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mears Group Market Data

Currency UK Pounds
Share Price 207.00p
Change Today 2.00p
% Change 0.98 %
52 Week High 224.00
52 Week Low 182.00
Volume 1,532,656
Shares Issued 111.02m
Market Cap £229.82m
RiskGrade 144

Mears Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.03% above the market average96.03% above the market average96.03% above the market average96.03% above the market average96.03% above the market average
98.04% above the sector average98.04% above the sector average98.04% above the sector average98.04% above the sector average98.04% above the sector average
Price Trend
64.04% above the market average64.04% above the market average64.04% above the market average64.04% above the market average64.04% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Income
78.49% above the market average78.49% above the market average78.49% above the market average78.49% above the market average78.49% above the market average
91.04% above the sector average91.04% above the sector average91.04% above the sector average91.04% above the sector average91.04% above the sector average
Growth
51.23% below the market average51.23% below the market average51.23% below the market average51.23% below the market average51.23% below the market average
53.4% below the sector average53.4% below the sector average53.4% below the sector average53.4% below the sector average53.4% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mears Group Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Oct-22 26-May-22
Paid 28-Oct-22 16-Jun-22
Amount 3.25p 5.50p

Trades for 03-Feb-2023

Time Volume / Share Price
10:39 1 @ 209.01p
10:36 914 @ 207.00p
10:26 5,000 @ 207.75p
09:53 353 @ 210.00p
09:48 458 @ 210.00p

Mears Group Key Personnel

CEO David Miles
Finance Director Andrew C M Smith

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